1. (a) At the time of each license application and upon request of the secretary, a person licensed under this article shall furnish evidence that the person:

   1. (1) has liability insurance or garage liability insurance covering the person's place of business; or
   2. (2) is a member of a risk retention group that is regulated by the Indiana department of insurance.

2. (b) A policy described in subsection (a)(1) must have limits of at least the following:

   1. (1) One hundred thousand dollars ($100,000) for bodily injury to one (1) person.
   2. (2) Three hundred thousand dollars ($300,000) for bodily injury for each accident.

   3. (3) Fifty thousand dollars ($50,000) for property damage.

      The minimum amounts required by this subsection must be maintained during the time the license is valid.

As added by P.L.92-2013, SEC.78. Amended by P.L.174-2016, SEC.92.