§ 31-33-9 - Self-insurers.
SECTION 31-33-9
§ 31-33-9 Self-insurers. – (a) Any person in whose name more than twenty-five (25) vehicles are registeredin this state may qualify as a self-insurer by obtaining a certificate ofself-insurance issued by the division of motor vehicles as provided insubsection (b) of this section.
(b) The division of motor vehicles may, in its discretion,upon the application of such a person, issue a certificate of self-insurancewhen it is satisfied that the person is possessed and will continue to bepossessed of the ability to pay judgment obtained against the person. Thecertificate may be issued authorizing a person to act as a self-insurer foreither property damage or bodily injury, or both.
(c) Upon not less than five (5) days' notice and a hearingpursuant to notice, the division of motor vehicles may upon reasonable groundscancel a certificate of self-insurance. Failure to pay any judgment withinthirty (30) days after the judgment shall have become final shall constitute areasonable ground for the cancellation of a certificate of self-insurance.