41-12a-407. Certificate of self-funded coverage as proof of owner's or operator's
security.
(1) The department may, upon the application of any person, issue a certificate of
self-funded coverage when it is satisfied that the person has:
(a) more than 24 motor vehicles; and
(b) deposits, in a form approved by the department, securities in an amount of $200,000
plus $100 for each motor vehicle up to and including 1,000 motor vehicles and $50 for every
motor vehicle over 1,000 motor vehicles.
(2) Persons holding a certificate of self-funded coverage under this chapter shall pay
benefits to persons injured from the self-funded person's operation, maintenance, and use of
motor vehicles as would an insurer issuing a policy to the self-funded person containing the
coverages under Section 31A-22-302.
(3) In accordance with Title 63G, Chapter 4, Administrative Procedures Act, the
department may, upon reasonable grounds, cancel the certificate. Failure to pay any judgment up
to the limit under Subsection 31A-22-304(2) within 30 days after the judgment is final is a
reasonable ground to cancel the certificate.
(4) Any government entity with self-funded coverage for government-owned motor
vehicles under Title 63G, Chapter 7, Governmental Immunity Act of Utah, meets the
requirements of this section.
Amended by Chapter 382, 2008 General Session
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Last revised: Thursday, May 01, 2008