Section 12 AAC 75.420 - Proof of transporter's financial responsibility(b) An applicant for a transporter license shall (1) certify that the applicant has and will maintain during the licensing period, assets, general liability insurance, or a bond totaling at least a minimum of $100,000 that will be available for payment of a judgment against the applicant resulting from the applicant's transportation services; and(2) list the assets, insurance, or bond, including, if applicable, (A) a description of the assets, their fair market value less any liens, identification of any liens against the assets, and the location of the assets; and(B) the name of the company issuing the insurance or bond, the policy or bond number, and the amount and type of coverage supplied by the insurance or bond.(c) A transporter shall notify the department within 10 days of any change to the information reported under (b) of this section.(d) The department may require additional documentation to substantiate the information provided in (b) of this section before approving an applicant for licensure or license renewal.Eff. 10/19/96, Register 140; am/readopt 7/30/2006, Register 179; am 12/1/2007, Register 184Effective 7/30/2006, Register 179, the Big Game Commercial Services Board readopted 12 AAC 75.420, to affirm the validity of that section following statutory amendments made in ch. 84, SLA 2005. The board also amended 12 AAC 75.420. Chapter 84, SLA 2005 transferred the Department of Commerce, Community, and Economics Development's authority to adopt regulations in 12 AAC 75 to the Big Game Commercial Services Board.
Authority:AS 08.54.600
AS 08.54.650
AS 08.54.660
AS 08.54.680