Current through September 30, 2024
Section 140.14 - Types of financial protection(a) The amounts of financial protection required under this part may be furnished and maintained in the form of:(1) An effective policy of liability insurance from private sources; or(2) Adequate resources to provide the financial protection required by §§ 140.11 , 140.12 ; 140.13 or § 140.13a ; or(3) Such other type of financial protection as the Commission may approve; or(4) Any combination of the foregoing.(b) In any case where the Commission has approved proof of financial protection filed by a licensee the licensee shall not substitute one type of financial protection for another type without first obtaining the written approval of the Commission.25 FR 2944, Apr. 7, 1960, as amended at 42 FR 49, Jan. 3, 1977