N.J.S.A. 48:4-50 — Self-insurance unaffected; nonresident owners and operators; certificate of self-insurance

48:4-50. Self-insurance unaffected; nonresident owners and operators; certificate of self-insurance Nothing contained in this article shall be construed to repeal any law permitting self-insurance of motor vehicles carrying passengers for hire, nor shall the foregoing requirements as to insurance apply to a vehicle owned or operated by a nonresident who is a self-insurer under the laws of the state of which he is a resident and in which such vehicle is registered, if such laws are substantially similar to the laws of this state with respect to the qualifications for self-insurance; provided, any such nonresident self-insurer shall have filed with the board of public utility commissioners a certified copy of the certificate permitting such operator to be a self-insurer under the laws of the state of which he is a resident and in which the motor vehicle is registered; the board may reject any such certificate of self-insurance if and when it determines, after hearing upon notice in writing to the self-insurer, that such self-insurer is not financially responsible to respond in damages.

This is the verbatim text of N.J.S.A. 48:4-50, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.