4919.78 Liability insurance certificate or surety bond. - Ohio Statutes

4919.78 Liability insurance certificate or surety bond.

No motor carrier required to register under section 4919.77 of the Revised Code shall engage in interstate or foreign commerce within the borders of this state until the motor carrier has filed with the public utilities commission of Ohio a currently effective liability insurance certificate from an insurance company, or a surety bond sufficient to protect against death, bodily injury, and property damage in such sum and with such provisions as the commission considers necessary to adequately protect the interests of the public. The liability insurance certificate, policy, or bond shall insure the motor carrier against loss sustained by reason of the death of, or injuries to, persons and for loss of, or damage to, property resulting from the negligence of the motor carrier. Motor carriers shall comply with requirements of the commission as to amounts of liability insurance. Each liability insurance certificate or surety bond shall provide that prior to cancellation thirty days notice in writing shall be given by the insurer or surety to the commission and the motor carrier. The commission shall prescribe the form and regulations pertaining to the liability insurance certificates or surety bonds.

Effective Date: 07-01-1993