California Code of Regulations
Title 13 - Motor Vehicles
Division 1 - Department of Motor Vehicles
Chapter 1 - Department of Motor Vehicles
Article 2.3 - Financial Responsibility
CERTIFICATES OF SELF-INSURANCE
Section 80.25 - Requirements
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
The applicant shall meet the following requirements to qualify as a self-insurer:
(a) The applicant shall have more than 25 motor vehicles registered in the name of the applicant as it appears on the Application for Certificate of Self-Insurance, form SR44 (REV. 6/01).
(b) The applicant shall provide audited financial statements of the applicant's net worth as defined in Section 80.00, Division 1, Chapter 1, of Title 13, of the California Code of Regulations. Included with the financial statements shall be an opinion of the financial condition of the applicant rendered by an independent certified public accountant.
(c) The net worth evidenced on the financial statement(s) submitted with the original application and subsequent annual renewals shall be equal to or greater than the net worth pursuant to Section 80.60, Division 1, Chapter 1, of Title 13, of the California Code of Regulations.
(d) No unsatisfied final judgments shall exist against the applicant's name resulting from property damages and/or bodily injury (including death) that occurred as a result of a motor vehicle accident.
1. New section filed 6-26-2001; operative 7-26-2001 (Register 2001, No. 26).
Note: Authority cited: Section 1651, Vehicle Code. Reference: Sections 16053, 16054.2, Vehicle Code.
