{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/46.2-2053.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/46.2-2053.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/46.2-2053.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/46.2-2053.html"}],"law_id":76994,"edition_id":1,"section_id":76994,"structure_id":13818,"section_number":"46.2-2053","catch_line":"Surety bonds, insurance, letter of credit, or securities required prior to issuance of registration; amounts","history":"2001, c. 596; 2006, c. 208.","full_text":"A\n\nNo certificate, permit, identification marker, registration card, or license plate shall be issued by the Department to any vehicle operated by a motor carrier until the motor carrier certifies to the Department that the vehicle is covered by:1\n\nAn insurance policy or bond;2\n\nA certificate of insurance in lieu of the insurance policy or bond, certifying that such policy or bond covers the liability of such motor carrier in accordance with the provisions of this article, is issued by an authorized insurer, or in the case of bonds, is in an amount approved by the Department. The bonds may be issued by the Commonwealth of Virginia, the United States of America, or any municipality in the Commonwealth. Such bonds shall be deposited with the State Treasurer and the surety shall not be reduced except in accordance with an order of the Department;3\n\nAn unconditional letter of credit, issued by a bank doing business in Virginia, for an amount approved by the Department. The letter of credit shall be in effect so long as the motor carrier operates motor vehicles in the Commonwealth; or4\n\nIn the case of a lessor who acts as a registrant for purposes of consolidating lessees’ vehicle registration applications, a statement that the registrant has, before leasing a vehicle, obtained from the lessee an insurance policy, bond, or certificate of insurance in lieu of the insurance policy or bond and can make available said proof of insurance coverage upon demand.\n\t\t\t\tVehicles operated by carriers who have filed proof of financial responsibility in accordance with the single state registration system authorized by 49 U.S.C. § 14504 or the Unified Carrier Registration System authorized by 49 U.S.C. § 14504a are deemed to have fulfilled the requirements of this article for insurance purposes, provided there is on board the vehicle a copy of an insurance receipt issued pursuant to the federal regulations promulgated pursuant to 49 U.S.C. § 14504 or 14504a. The Department is further authorized to issue single state registration system or unified carrier registration system receipts to any qualified carrier as well as to collect and disperse the fees for and to qualified jurisdictions.B\n\nAll motor carriers shall keep in force at all times insurance, a bond or bonds, in an amount required by this section. Except for taxicabs, the minimum financial responsibility requirements for motor carriers operating intrastate shall be based on the number of passengers a vehicle is designed or manufactured to transport, including the driver, and shall be as follows: one to six passengers — $350,000; seven to 15 passengers — $1,500,000; 16 or more passengers — $5,000,000. All motor carriers operating exclusively taxicabs or other motor vehicles performing a taxicab service shall maintain liability insurance of at least $125,000.C\n\nThe minimum insurance for motor carriers operating in interstate commerce shall equal the minimum required by federal law, rule, or regulation. Any motor carrier that meets the minimum federal financial responsibility requirements and also operates in intrastate commerce may submit, in lieu of a separate filing for its intrastate operation, proof of the minimum federal limits, provided that both interstate and intrastate operations are insured.","order_by":null,"text":{"0":{"id":276330,"text":"No certificate, permit, identification marker, registration card, or license plate shall be issued by the Department to any vehicle operated by a motor carrier until the motor carrier certifies to the Department that the vehicle is covered by:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":276331,"text":"An insurance policy or bond;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":276332,"text":"A certificate of insurance in lieu of the insurance policy or bond, certifying that such policy or bond covers the liability of such motor carrier in accordance with the provisions of this article, is issued by an authorized insurer, or in the case of bonds, is in an amount approved by the Department. The bonds may be issued by the Commonwealth of Virginia, the United States of America, or any municipality in the Commonwealth. Such bonds shall be deposited with the State Treasurer and the surety shall not be reduced except in accordance with an order of the Department;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":276333,"text":"An unconditional letter of credit, issued by a bank doing business in Virginia, for an amount approved by the Department. The letter of credit shall be in effect so long as the motor carrier operates motor vehicles in the Commonwealth; or","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":276334,"text":"In the case of a lessor who acts as a registrant for purposes of consolidating lessees’ vehicle registration applications, a statement that the registrant has, before leasing a vehicle, obtained from the lessee an insurance policy, bond, or certificate of insurance in lieu of the insurance policy or bond and can make available said proof of insurance coverage upon demand.\n\t\t\t\tVehicles operated by carriers who have filed proof of financial responsibility in accordance with the single state registration system authorized by 49 U.S.C. § 14504 or the Unified Carrier Registration System authorized by 49 U.S.C. § 14504a are deemed to have fulfilled the requirements of this article for insurance purposes, provided there is on board the vehicle a copy of an insurance receipt issued pursuant to the federal regulations promulgated pursuant to 49 U.S.C. § 14504 or 14504a. The Department is further authorized to issue single state registration system or unified carrier registration system receipts to any qualified carrier as well as to collect and disperse the fees for and to qualified jurisdictions.","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"B"},"5":{"id":276335,"text":"All motor carriers shall keep in force at all times insurance, a bond or bonds, in an amount required by this section. Except for taxicabs, the minimum financial responsibility requirements for motor carriers operating intrastate shall be based on the number of passengers a vehicle is designed or manufactured to transport, including the driver, and shall be as follows: one to six passengers — $350,000; seven to 15 passengers — $1,500,000; 16 or more passengers — $5,000,000. All motor carriers operating exclusively taxicabs or other motor vehicles performing a taxicab service shall maintain liability insurance of at least $125,000.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A4","next_prefix":"C"},"6":{"id":276336,"text":"The minimum insurance for motor carriers operating in interstate commerce shall equal the minimum required by federal law, rule, or regulation. Any motor carrier that meets the minimum federal financial responsibility requirements and also operates in intrastate commerce may submit, in lieu of a separate filing for its intrastate operation, proof of the minimum federal limits, provided that both interstate and intrastate operations are insured.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13818,"edition_id":1,"name":"Insurance Requirements","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":13319,"metadata":{},"date_created":"2026-06-26 03:45:59","date_modified":"2026-06-26 03:45:59","permalink":{"id":232267,"object_type":"structure","relational_id":13818,"identifier":"2","token":"46.2\/V\/20\/2","url":"\/46.2\/V\/20\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13319,"edition_id":1,"name":"Regulation of Passenger Carriers","identifier":"20","label":"chapter","depth":3,"order_by":1,"parent_id":13318,"metadata":{},"date_created":"2026-06-26 03:44:38","date_modified":"2026-06-26 03:44:38","permalink":{"id":231967,"object_type":"structure","relational_id":13319,"identifier":"20","token":"46.2\/V\/20","url":"\/46.2\/V\/20\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13318,"edition_id":1,"name":"Motor Carriers","identifier":"V","label":"subtitle","depth":2,"order_by":1,"parent_id":12770,"metadata":{},"date_created":"2026-06-26 03:44:38","date_modified":"2026-06-26 03:44:38","permalink":{"id":231965,"object_type":"structure","relational_id":13318,"identifier":"V","token":"46.2\/V","url":"\/46.2\/V\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12770,"edition_id":1,"name":"Motor Vehicles","identifier":"46.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:52","date_modified":"2026-06-26 03:43:52","permalink":{"id":225289,"object_type":"structure","relational_id":12770,"identifier":"46.2","token":"46.2","url":"\/46.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":77986,"structure_id":13818,"section_number":"46.2-2051","catch_line":"Application of article","url":"\/46.2-2051\/","token":"46.2\/V\/20\/2\/46.2-2051","metadata":false},{"id":58710,"structure_id":13818,"section_number":"46.2-2052","catch_line":"Bonds or insurance to be kept in force; amounts","url":"\/46.2-2052\/","token":"46.2\/V\/20\/2\/46.2-2052","metadata":false},{"id":76994,"structure_id":13818,"section_number":"46.2-2053","catch_line":"Surety bonds, insurance, letter of credit, or securities required prior to issuance of registration; amounts","url":"\/46.2-2053\/","token":"46.2\/V\/20\/2\/46.2-2053","metadata":false},{"id":73434,"structure_id":13818,"section_number":"46.2-2054","catch_line":"Policies or surety bonds to be filed with the Department and securities with State Treasurer","url":"\/46.2-2054\/","token":"46.2\/V\/20\/2\/46.2-2054","metadata":false},{"id":54831,"structure_id":13818,"section_number":"46.2-2055","catch_line":"Condition or obligation of security","url":"\/46.2-2055\/","token":"46.2\/V\/20\/2\/46.2-2055","metadata":false},{"id":75632,"structure_id":13818,"section_number":"46.2-2056","catch_line":"Effect of unfair claims settlement practices on self-insured motor carriers","url":"\/46.2-2056\/","token":"46.2\/V\/20\/2\/46.2-2056","metadata":false},{"id":86094,"structure_id":13818,"section_number":"46.2-2057","catch_line":"Taxicab insurance required","url":"\/46.2-2057\/","token":"46.2\/V\/20\/2\/46.2-2057","metadata":false},{"id":68594,"structure_id":13818,"section_number":"46.2-2058","catch_line":"When taxicab operator a self-insurer","url":"\/46.2-2058\/","token":"46.2\/V\/20\/2\/46.2-2058","metadata":false}],"previous_section":{"id":58710,"structure_id":13818,"section_number":"46.2-2052","catch_line":"Bonds or insurance to be kept in force; amounts","url":"\/46.2-2052\/","token":"46.2\/V\/20\/2\/46.2-2052","metadata":false},"next_section":{"id":73434,"structure_id":13818,"section_number":"46.2-2054","catch_line":"Policies or surety bonds to be filed with the Department and securities with State Treasurer","url":"\/46.2-2054\/","token":"46.2\/V\/20\/2\/46.2-2054","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/46.2-2053\/","history_text":"

This law was first created in 2001. The record of its establishment is cataloged in chapter 596<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2006, chapter 208<\/a>.<\/p>","references":[{"id":86641,"section_number":"46.2-2067","catch_line":"Local regulation of number of taxicabs","order_by":null,"url":"\/46.2-2067\/"}],"refers_to":false,"permalink":{"id":232277,"object_type":"law","relational_id":76994,"identifier":"46.2-2053","token":"46.2\/V\/20\/2\/46.2-2053","url":"\/46.2-2053\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/46.2-2053\/","token":"46.2\/V\/20\/2\/46.2-2053","dublin_core":{"Title":"Surety bonds, insurance, letter of credit, or securities required prior to issuance of registration; amounts","Type":"Text","Format":"text\/html","Identifier":"\u00a7 46.2-2053","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> No certificate<\/span>, permit<\/span>, identification marker<\/span>, registration card, or license plate<\/span> shall be issued by the Department<\/span> to any vehicle<\/span> operated by a motor carrier<\/span> until the motor carrier<\/span> certifies to the Department<\/span> that the vehicle<\/span> is covered by: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> An insurance policy or bond<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A certificate<\/span> of insurance in lieu of the insurance policy or bond<\/span>, certifying that such policy or bond<\/span> covers the liability of such motor carrier<\/span> in accordance with the provisions of this article, is issued by an authorized insurer, or in the case of bonds<\/span>, is in an amount approved by the Department<\/span>. The bonds<\/span> may be issued by the Commonwealth of Virginia, the United States of America, or any municipality in the Commonwealth. Such bonds<\/span> shall be deposited with the State Treasurer and the surety<\/span> shall not be reduced except in accordance with an order<\/span> of the Department<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> An unconditional letter of credit, issued by a bank doing business in Virginia, for an amount approved by the Department<\/span>. The letter of credit shall be in effect so long as the motor carrier<\/span> operates motor vehicles<\/span> in the Commonwealth; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> In the case of a lessor who acts as a registrant for purposes of consolidating lessees’ vehicle<\/span> registration applications, a statement that the registrant has, before leasing a vehicle<\/span>, obtained from the lessee an insurance policy, bond<\/span>, or certificate<\/span> of insurance in lieu of the insurance policy or bond<\/span> and can make available said proof of insurance coverage upon demand.\n\t\t\t\tVehicles operated by carriers who have filed proof of financial responsibility<\/span> in accordance with the single state registration system authorized by 49 U.S.C. § 14504 or the Unified Carrier Registration System authorized by 49 U.S.C. § 14504a are deemed to have fulfilled the requirements of this article for insurance purposes, provided there is on board the vehicle<\/span> a copy of an insurance receipt issued pursuant to the federal regulations promulgated pursuant to 49 U.S.C. § 14504 or 14504a. The Department<\/span> is further authorized to issue<\/span> single state registration system or unified carrier registration system receipts to any qualified carrier as well as to collect and disperse the fees for and to qualified jurisdictions<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> All motor carriers<\/span> shall keep in force at all times insurance, a bond<\/span> or bonds<\/span>, in an amount required by this section. Except for taxicabs, the minimum financial responsibility<\/span> requirements for motor carriers<\/span> operating intrastate<\/span> shall be based on the number of passengers a vehicle<\/span> is designed or manufactured to transport, including the driver<\/span>, and shall be as follows: one to six passengers — $350,000; seven to 15 passengers — $1,500,000; 16 or more passengers — $5,000,000. All motor carriers<\/span> operating exclusively taxicabs or other motor vehicles<\/span> performing a taxicab service shall maintain liability insurance of at least $125,000. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The minimum insurance for motor carriers<\/span> operating in interstate<\/span> commerce shall equal the minimum required by federal law<\/span>, rule, or regulation. Any motor carrier<\/span> that meets the minimum federal financial responsibility<\/span> requirements and also operates in intrastate<\/span> commerce may submit, in lieu of a separate filing for its intrastate<\/span> operation<\/span>, proof of the minimum federal limits, provided that both interstate<\/span> and intrastate<\/span> operations<\/span><\/span> are insured. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSURETY BONDS, INSURANCE, LETTER OF CREDIT, OR SECURITIES REQUIRED PRIOR TO\nISSUANCE OF REGISTRATION; AMOUNTS (\u00a7 46.2-2053)\n\nA. No certificate, permit, identification marker, registration card, or license\nplate shall be issued by the Department to any vehicle operated by a motor\ncarrier until the motor carrier certifies to the Department that the vehicle is\ncovered by:\n\n 1. An insurance policy or bond;\n\n 2. A certificate of insurance in lieu of the insurance policy or bond,\n certifying that such policy or bond covers the liability of such motor carrier\n in accordance with the provisions of this article, is issued by an authorized\n insurer, or in the case of bonds, is in an amount approved by the Department.\n The bonds may be issued by the Commonwealth of Virginia, the United States of\n America, or any municipality in the Commonwealth. Such bonds shall be\n deposited with the State Treasurer and the surety shall not be reduced except\n in accordance with an order of the Department;\n\n 3. An unconditional letter of credit, issued by a bank doing business in\n Virginia, for an amount approved by the Department. The letter of credit shall\n be in effect so long as the motor carrier operates motor vehicles in the\n Commonwealth; or\n\n 4. In the case of a lessor who acts as a registrant for purposes of\n consolidating lessees’ vehicle registration applications, a statement\n that the registrant has, before leasing a vehicle, obtained from the lessee an\n insurance policy, bond, or certificate of insurance in lieu of the insurance\n policy or bond and can make available said proof of insurance coverage upon\n demand.\n \t\t\t\tVehicles operated by carriers who have filed proof of financial\n responsibility in accordance with the single state registration system\n authorized by 49 U.S.C. § 14504 or the Unified Carrier Registration\n System authorized by 49 U.S.C. § 14504a are deemed to have fulfilled the\n requirements of this article for insurance purposes, provided there is on\n board the vehicle a copy of an insurance receipt issued pursuant to the\n federal regulations promulgated pursuant to 49 U.S.C. § 14504 or 14504a.\n The Department is further authorized to issue single state registration system\n or unified carrier registration system receipts to any qualified carrier as\n well as to collect and disperse the fees for and to qualified jurisdictions.\n\nB. All motor carriers shall keep in force at all times insurance, a bond or\nbonds, in an amount required by this section. Except for taxicabs, the minimum\nfinancial responsibility requirements for motor carriers operating intrastate\nshall be based on the number of passengers a vehicle is designed or manufactured\nto transport, including the driver, and shall be as follows: one to six\npassengers — $350,000; seven to 15 passengers — $1,500,000; 16 or\nmore passengers — $5,000,000. All motor carriers operating exclusively\ntaxicabs or other motor vehicles performing a taxicab service shall maintain\nliability insurance of at least $125,000.\n\nC. The minimum insurance for motor carriers operating in interstate commerce\nshall equal the minimum required by federal law, rule, or regulation. Any motor\ncarrier that meets the minimum federal financial responsibility requirements and\nalso operates in intrastate commerce may submit, in lieu of a separate filing\nfor its intrastate operation, proof of the minimum federal limits, provided that\nboth interstate and intrastate operations are insured.\n\nHISTORY: 2001, c. 596; 2006, c. 208.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}