46.2-2146 - Effect of unfair claims settlement practices on self-insured motor carriers. - Virginia Statutes

§ 46.2-2146. Effect of unfair claims settlement practices on self-insuredmotor carriers.

The provisions of subdivisions 4, 6, 11 and 12 of subsection A of § 38.2-510shall apply to each holder of a certificate of public convenience andnecessity or permit issued by and under the authority of the Department who,in lieu of filing an insurance policy, has deposited with the State Treasurerstate, federal or municipal bonds or has filed an unconditional letter ofcredit issued by a bank. The failure of any such holder of a certificate orpermit to comply with the provisions of § 38.2-510 shall be the cause forrevocation or suspension of the certificate or permit.

(2001, c. 596.)