48:16-3 - Insurance; amount - New-jersey Statutes

State Codes and Statutes

Statutes > New-jersey > Title-48 > Section-48-16 > 48-16-3

48:16-3. Insurance; amount
    No such consent shall become effective until the owner of the autocab shall have filed with the clerk of the municipality in which such operation is permitted, an insurance policy of a company duly licensed to transact business under the insurance laws of this State conditioned for the payment of a sum of not less than $10,000.00 to satisfy all claims for damages, by reason of bodily injury to, or the death of, any 1 person, resulting from an accident, and a sum of not less than $20,000.00 to satisfy all claims for damages, by reason of the bodily injuries to, or the death of, all persons, on account of any such accident, by reason of the ownership, operation, maintenance, or use of such autocab upon any public street; and conditioned for the payment of a sum not less than $5,000.00 to satisfy any claim for damages to property of any 1 person, resulting from an accident, and a sum not less than $5,000.00 to satisfy all claims for damages to property of all persons, on account of any such accident, by reason of the ownership, operation, maintenance, or use of such autocab upon any public street.

    The consent shall become effective and operation thereunder shall be permitted only so long as the insurance policy shall remain in force to the full and collectible amounts as aforesaid.

    The insurance policy shall provide for the payment of any final judgment recovered by any person on account of the ownership, maintenance, or use of the autocab or any fault in respect thereto, and shall be for the benefit of every person suffering loss, damage or injury as aforesaid.

     Amended by L.1951, c. 148, p. 613, s. 1; L.1959, c. 53, p. 160, s. 1, approved June 1, 1959.

State Codes and Statutes

Statutes > New-jersey > Title-48 > Section-48-16 > 48-16-3

48:16-3. Insurance; amount
    No such consent shall become effective until the owner of the autocab shall have filed with the clerk of the municipality in which such operation is permitted, an insurance policy of a company duly licensed to transact business under the insurance laws of this State conditioned for the payment of a sum of not less than $10,000.00 to satisfy all claims for damages, by reason of bodily injury to, or the death of, any 1 person, resulting from an accident, and a sum of not less than $20,000.00 to satisfy all claims for damages, by reason of the bodily injuries to, or the death of, all persons, on account of any such accident, by reason of the ownership, operation, maintenance, or use of such autocab upon any public street; and conditioned for the payment of a sum not less than $5,000.00 to satisfy any claim for damages to property of any 1 person, resulting from an accident, and a sum not less than $5,000.00 to satisfy all claims for damages to property of all persons, on account of any such accident, by reason of the ownership, operation, maintenance, or use of such autocab upon any public street.

    The consent shall become effective and operation thereunder shall be permitted only so long as the insurance policy shall remain in force to the full and collectible amounts as aforesaid.

    The insurance policy shall provide for the payment of any final judgment recovered by any person on account of the ownership, maintenance, or use of the autocab or any fault in respect thereto, and shall be for the benefit of every person suffering loss, damage or injury as aforesaid.

     Amended by L.1951, c. 148, p. 613, s. 1; L.1959, c. 53, p. 160, s. 1, approved June 1, 1959.

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > New-jersey > Title-48 > Section-48-16 > 48-16-3

48:16-3. Insurance; amount
    No such consent shall become effective until the owner of the autocab shall have filed with the clerk of the municipality in which such operation is permitted, an insurance policy of a company duly licensed to transact business under the insurance laws of this State conditioned for the payment of a sum of not less than $10,000.00 to satisfy all claims for damages, by reason of bodily injury to, or the death of, any 1 person, resulting from an accident, and a sum of not less than $20,000.00 to satisfy all claims for damages, by reason of the bodily injuries to, or the death of, all persons, on account of any such accident, by reason of the ownership, operation, maintenance, or use of such autocab upon any public street; and conditioned for the payment of a sum not less than $5,000.00 to satisfy any claim for damages to property of any 1 person, resulting from an accident, and a sum not less than $5,000.00 to satisfy all claims for damages to property of all persons, on account of any such accident, by reason of the ownership, operation, maintenance, or use of such autocab upon any public street.

    The consent shall become effective and operation thereunder shall be permitted only so long as the insurance policy shall remain in force to the full and collectible amounts as aforesaid.

    The insurance policy shall provide for the payment of any final judgment recovered by any person on account of the ownership, maintenance, or use of the autocab or any fault in respect thereto, and shall be for the benefit of every person suffering loss, damage or injury as aforesaid.

     Amended by L.1951, c. 148, p. 613, s. 1; L.1959, c. 53, p. 160, s. 1, approved June 1, 1959.