[§431:10C-604]  Issuance of certificate of
self-insurance.  The commissioner shall issue a certificate of
self-insurance if:



(1)  The applicant has provided the bond, cash, or
securities and proof of qualification as a self-insurer affording security substantially
equivalent to that afforded under a motor vehicle insurance policy; and



(2)  The commissioner is satisfied that in case of
injury, death, or property damage, any claimant would have the same rights
against the self-insurer as the claimant would have had if a motor vehicle
insurance policy was applicable. [L 2000, c 24, pt of §3]