1. A. No certificate or permit shall be issued by the Commission to any motor carrier of household goods or used emigrant movables until after such motor carrier shall have filed with the Commission a liability insurance policy or bond covering public liability and property damage, issued by some insurance or bonding company or insurance carrier authorized as set forth below, and which has complied with all of the requirements of the Commission, which bond or policy shall be approved by the Commission, and shall be in such sum and amount as fixed by a proper order of the Commission; and such liability and property damage insurance policy or bond shall bind the obligor thereunder to make compensation for injuries to, or death of, persons, and loss or damage to property, resulting from the operation of any such motor carrier for which such carrier is legally liable. A copy of the policy or bond shall be filed with the Commission, and, after judgment against the carrier for any damage, the injured party may maintain an action upon the policy or bond to recover the same, and shall be a proper party to maintain such action.
2. B. Every motor carrier of household goods or used emigrant movables shall file with the Commission a cargo insurance policy or bond covering any goods or property being transported, issued by some insurance or bonding company or insurance carrier authorized as set forth below, and which has complied with all of the requirements of the Commission, which bond or policy shall be approved by the Commission, and shall be in a sum and amount as fixed by a proper order of the Commission. The cargo insurance must be filed with the Commission prior to a certificate or permit being issued by the Commission.
3. C. No carrier, whose principal place of business is in Oklahoma, shall conduct any operations in this state unless the operations are covered by a valid primary bond or insurance policy issued by a provider authorized or approved by the State Insurance Commissioner. No carrier shall conduct any operations in this state unless the operations are covered by a valid bond or insurance policy issued by a provider licensed or approved by the State Insurance Commissioner or the insurance regulatory authority of any other state.

4. D. Each motor carrier shall maintain on file, in full force, all insurance required by the laws of the State of Oklahoma and the rules of the Commission during such motor carrier's operation and that the failure for any cause to maintain such coverage in full force and effect shall immediately, without any notice from the Commission, suspend such carrier's rights to operate until proper insurance is provided. Any carrier suspended for failure to maintain proper insurance shall have a reasonable time, not exceeding sixty (60) days, within which to provide proper insurance and to have his authority reactivated, upon showing:

   1. 1. No operation during the period in which he did not have insurance; and
   2. 2. Furnishing of proper insurance coverage.
5. E. Any carrier who fails to reactivate his or its permit or certificate within sixty (60) days after such suspension, as above provided, shall have said permit or certificate canceled, by operation of law, without any notice from the Commission. No certificate or permit so canceled shall be reinstated or otherwise made operative except that the Commission may reinstate the authority of a motor carrier upon proper showing that the motor carrier was actually covered by proper insurance during the suspension or cancellation period, and that failure to file with the Commission was not due to the motor carrier's own negligence. Any carrier desiring to file for reinstatement of its certificate or permit shall do so within ninety (90) days of its cancellation by law.
6. F. The Commission shall, in its discretion, permit the filing of certificates of insurance coverage on such form as may be prescribed by the Commission, in lieu of copies of insurance policies or bonds, with the proviso that if the certificates are authorized, the insurance company or carrier so filing it, upon request of the Commission, shall, at any time, furnish an authenticated copy of the policy which the certificate represents, and further provided that thirty (30) days prior to effective cancellation or termination of the policy of insurance for any cause, the insurer shall so notify the Commission in writing of the facts or as deemed necessary by the Commission.

Added by Laws 1929, HB 19, c. 253, § 10, emerg. eff. June 28, 1929; Amended by Laws 1933, HB 636, c. 156, p. 360, § 4, emerg. eff. April 12, 1933; Amended by Laws 1937, HB 283, c. 66, § 16, emerg. eff. May 1, 1937; Amended by Laws 1965, HB 922, c. 183, § 4, emerg. eff. June 3, 1965; Amended by Laws 1968, HB 1114, c. 190, § 9, eff. September 30, 1968; Amended by Laws 1970, SB 579, c. 80, § 1, emerg. eff. March 23, 1970; Amended by Laws 1995, HB 1283, c. 143, § 21, eff. November 1, 1995.