1. (a) Any person in whose name more than twenty-five motor vehicles are registered may qualify as a self-insurer by obtaining a certificate of self-insurance issued by the administrator as provided in subsection (b) of this section.
2. (b) The administrator may, in the administrator's discretion, upon the application of such a person, issue a certificate of self-insurance when the administrator is satisfied that the person is possessed and will continue to be possessed of ability to pay judgments obtained against such person.
3. (c) Upon not less than five days' notice and a hearing pursuant to the notice, the administrator may upon reasonable grounds cancel a certificate of self-insurance. Failure to pay any judgment within thirty days after the judgment has become final shall constitute a reasonable ground for the cancellation of a certificate of self-insurance.

[L 1949, c 393, pt of §1; RL 1955, §160-120; HRS §287-42; am L 1980, c 84, pt of §1; gen ch 1985]