1. (a) Repealed 12/1/2007.

2. (b) An applicant for a transporter license shall

   1. (1) certify that the applicant has and will maintain during the licensing period, assets, general liability insurance, or a bond totaling at least a minimum of $100,000 that will be available for payment of a judgment against the applicant resulting from the applicant's transportation services; and

   2. (2) list the assets, insurance, or bond, including, if applicable,

      1. (A) a description of the assets, their fair market value less any liens, identification of any liens against the assets, and the location of the assets; and
      2. (B) the name of the company issuing the insurance or bond, the policy or bond number, and the amount and type of coverage supplied by the insurance or bond.
3. (c) A transporter shall notify the department within 10 days of any change to the information reported under (b) of this section.
4. (d) The department may require additional documentation to substantiate the information provided in (b) of this section before approving an applicant for licensure or license renewal.

(Eff. 10/19/96, Register 140; am/readopt 7/30/2006, Register 179; am 12/1/2007, Register 184)

Authority: AS 08.54.600, AS 08.54.650, AS 08.54.660, AS 08.54.680