Section 80.25 - RequirementsThe applicant shall meet the following requirements to qualify as a self-insurer:
(a) The applicant shall have more than 25 motor vehicles registered in the name of the applicant as it appears on the Application for Certificate of Self-Insurance, form SR44 (REV. 6/01).(b) The applicant shall provide audited financial statements of the applicant's net worth as defined in Section 80.00, Division 1, Chapter 1, of Title 13, of the California Code of Regulations. Included with the financial statements shall be an opinion of the financial condition of the applicant rendered by an independent certified public accountant.(c) The net worth evidenced on the financial statement(s) submitted with the original application and subsequent annual renewals shall be equal to or greater than the net worth pursuant to Section 80.60, Division 1, Chapter 1, of Title 13, of the California Code of Regulations.(d) No unsatisfied final judgments shall exist against the applicant's name resulting from property damages and/or bodily injury (including death) that occurred as a result of a motor vehicle accident.Cal. Code Regs. Tit. 13, § 80.25
1. New section filed 6-26-2001; operative 7-26-2001 (Register 2001, No. 26). Note: Authority cited: Section 1651, Vehicle Code. Reference: Sections 16053, 16054.2, Vehicle Code.
1. New section filed 6-26-2001; operative 7-26-2001 (Register 2001, No. 26).