46.2-2144 - Policies or surety bonds to be filed with the Department and securities with State Treasurer. - Virginia Statutes

§ 46.2-2144. Policies or surety bonds to be filed with the Department andsecurities with State Treasurer.

A. Each motor carrier shall keep on file with the Department proof of aninsurance policy or bond in accordance with this article. Record of thepolicy or bond shall remain in the files of the Department six months afterthe certificate of public convenience and necessity, registration card,license plate, identification marker or permit is canceled for any cause. Iffederal, state, or municipal bonds are deposited with the State Treasurer inlieu of an insurance policy, the bonds shall remain deposited until sixmonths after the registration card, license plate, certificate, permit oridentification marker is canceled for any cause unless otherwise ordered bythe Department.

B. The Department may, without holding a hearing, suspend a permit orcertificate of public convenience and necessity if the permittee orcertificate holder fails to comply with the requirements of this section.

(2001, c. 596.)