48:4-50 - Self-insurance unaffected; nonresident owners and operators; certificate of self-insurance - New Jersey Statutes

48:4-50.  Self-insurance unaffected;  nonresident owners and operators; certificate of self-insurance
    Nothing contained in this article shall be construed to repeal any law permitting self-insurance of motor vehicles carrying passengers for hire, nor shall the foregoing requirements as to insurance apply to a vehicle owned or operated by a nonresident who is a self-insurer under the laws of the state of which he is a resident and in which such vehicle is registered, if such laws are substantially similar to the laws of this state with respect to the qualifications for self-insurance;  provided, any such nonresident self-insurer  shall have filed with the board of public utility commissioners a certified  copy of the certificate permitting such operator to be a self-insurer under the  laws of the state of which he is a resident and in which the motor vehicle is  registered;  the board may reject any such certificate of self-insurance if and  when it determines, after hearing upon notice in writing to the self-insurer,  that such self-insurer is not financially responsible to respond in damages.