§200.6. Self-insurance
In lieu of the insurance coverage required under R.S. 45:200.4, or permitted under R.S. 45:200.5, the owner of one or more public carrier vehicles may act as self-insurer, provided that he shall have filed, and shall refile annually, with the duly designated authority of the municipality or parish, a financial statement certified by a certified public accountant showing an unencumbered net worth of such owner in excess of one hundred thousand dollars in current assets within the state of Louisiana; and shall also have filed with such authority a policy or policies of liability insurance issued by one or more underwriters or insurance companies amenable to suit in Louisiana, insuring payment of claims for each public carrier vehicle operated by such owner, in the amounts fixed in R.S. 45:200.4 in excess of a maximum of fifteen thousand dollars for personal injury to, or death of, any one person, resulting from any one accident, and, subject to such limit for one person, a maximum of thirty thousand dollars for personal injury to, or death of, two or more persons, resulting from any one accident. The certificate or certificates of such owner shall be effective, and operation thereunder shall be permitted, only so long as the insurance shall remain in force as herein provided.
Added by Acts 1962, No. 404, §1.
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