§1503.  General provisions; carrier liability insurance; carrier placards

A.  This Chapter implements and is supplementary to the Louisiana motor vehicle laws.

B.  Whenever in this Chapter or regulations issued pursuant thereto a reference is made to another law or regulation, the reference also applies to any amendment of the referenced law or regulation.

C.  Each carrier, other than a rail carrier, which transports hazardous materials or hazardous waste in any vehicle, and each carrier, other than a rail carrier, which transports freight in a vehicle with a gross vehicle weight rating of twenty-four thousand pounds or more shall acquire a minimum continuous coverage of three hundred thousand dollars public liability and two hundred thousand dollars property damage insurance for each unit regulated by this Chapter.  The financial responsibility required may be established by any one or a combination of the following:

(1)  Evidence of liability insurance.

(2)  Self-insurance, but the level of self-insurance may not be less than twenty percent of equity.

(3)  Other evidence of financial responsibility acceptable to the secretary.

D.  Each carrier transporting hazardous materials shall indicate the proper hazard class by placing a placard stating such class on all four sides of each vehicle as required by the rules and regulations promulgated by the secretary.

Added by Acts 1979, No. 83, §1.  Amended by Acts 1980, No. 603, §1, eff. July 23, 1980; Acts 1982, No. 326, §1; Acts 1987, No. 845, §1; Acts 1990, No. 922, §1; Acts 1992, No. 567, §1.