67-3-403. Evidence of insurance. (1) The protection required under 67-3-401, covering each aircraft used or to be used in commercial operations for compensation, shall be evidenced by providing one of the following to the department:
     (a) a copy of the policy of insurance issued by a company authorized to write the insurance in the state;
     (b) a bond of a surety company authorized to write surety bonds in the state; or
     (c) evidence of the qualification of the commercial air operator as a self-insurer as may be authorized by the department.
     (2) With the consent of the department, a copy of an insurance policy, certified by the company issuing it to be a true copy of the original policy, a photostatic copy of the original policy, an abstract of the provisions of the policy, or a certificate of insurance issued by the company issuing the policy may be filed with the department instead of the original or a duplicate or counterpart of the policy.
     (3) The department may accept policies of insurance written by unauthorized insurers if the policies of insurance meet the rules adopted by the department.

     History: En. Sec. 6, Ch. 122, L. 1967; amd. Sec. 21, Ch. 348, L. 1974; R.C.M. 1947, 1-316.