§ 46.2-2054. Policies or surety bonds to be filed with the Department and securities with State Treasurer

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Code of Virginia
Title 46.2. Motor Vehicles
Chapter 20. Regulation of Passenger Carriers

11/7/2024

§ 46.2-2054. Policies or surety bonds to be filed with the Department and securities with State Treasurer.

A. Each motor carrier shall keep on file with the Department proof of an insurance policy or bond in accordance with this article. Record of the policy or bond shall remain in the files of the Department six months after the certificate, registration card, license plate, identification marker or permit is canceled for any cause. If federal, state, or municipal bonds are deposited with the State Treasurer in lieu of an insurance policy, the bonds shall remain deposited until six months after the registration card, license plate, certificate, permit or identification marker is canceled for any cause unless otherwise ordered by the Department.

B. The Department may, without holding a hearing, suspend a permit or certificate if the permittee or certificate holder fails to comply with the requirements of this section.

2001, c. 596.