Page:United States Statutes at Large Volume 52.djvu/1275

 PUBLIC LAWS-CH. 809-JUNE 29, 1938 in the operation, maintenance, use, or by reason of the defective con- Form, terms, etc. struction of such motor cabs or other vehicles. Any such bond or undertaking or policy of liability insurance shall be in such form and Limitation on i on such terms or conditions as the Commission may direct. Provided, surer'sliabilityonany That such bond or policy may limit the liability of the surety or one judgment. insurer on any one judgment to $5,000 for bodily injuries or death and $1,000 for damage to or destruction of property, and all judgments recovered upon claims arising out of the same subject of action to $10,000 for bodily injuries or death and $1,000 for damages to or destruction of property, to be apportioned ratably among the judgment creditors according to the amount of their respective judgments. Issuance of insur- Any such policy of liability insurance shall be issued only by such ancelimited to author-. ized companies. insurance companies as may have been authorized to do business in the District of Columbia, and any such bond or undertaking shall be secured by a corporate surety approved by the Superintendent of Rules relating to Insurance of the District of Columbia. The Superintendent of Insur- ancei;ratesi s ance of the District of Columbia shall be empowered to make all reasonable rules and regulations relating to the writing of taxicab insurance and shall be empowered to govern the maximum rates to fCancelaton; notice be charged on such insurance. No such bond or policy of insurance may be canceled unless not less than twenty days prior to such cancela- tion or termination notice of intention so to do has been filed in writing with the Commission unless cancelation is for nonpayment of premiums, in which event five days' notice as above provided shall be Operation unlawful given. It shall be unlawful to operate any vehicle subject to the unless covered by ap- proved bond or insur- provisions of this paragraph unless such vehicle shall be covered by an c e. an approved bond or policy of liability insurance as provided herein. Rules and regula- The Public Utilities Commission shall have the power to make all tons. reasonable rules and regulations which, in its opinion, are necessary to make effective the purposes of this section. Provisions inlie of Any owner of a public vehicle required hereby to file a bond or bond, etc. policy of insurance may, in lieu thereof: Blanket bond or (a) File with the Public Utilities Commission a blanket bond, or blanket policy of ala- bilitketnsurnol' a blanket policy of liability insurance, in an amount to be approved by said Commission, but not to exceed $75,000, conditioned as required by this Act, and covering all vehicles lawfully displaying the trade name or identifying design of any individual, association, company or corporation. Sinking fund of su- (b) Create and maintain a sinking fund in such amount as the trutnt amount Public Utilities Commission may require, but not in excess of $75,000, and deposit the same, in trust, for the payment of any judgment recovered against such owner, as provided in this Act, with such person, official or corporation as said Commission shall designate. Proviso. Provided That should any such owner elect to comply with the provisions of paragraphs (a) or (b) of this section, such owner shall first file with the Public Utilities Commission an admission of liabil- ity, in conformity with the principle of respondent superior for the tortious acts of the driver or drivers of such vehicle or vehicles afore- said as shall be driven- with the trade name or identifying design of such owner. Exemption from Any cash or collateral deposit and/or any sinking fund herein attachment, ec. provided for shall be exempt from attachment or levy for any obliga- tion or liability of the depositor thereof, save as herein provided. "Owner" deined. Within the meaning of this paragraph, the word "owner" shall include any corporation, company, association, joint stock company or association, partnership or person, and the lessees, trustees or receivers appointed by any court whatsoever, permitting his, their or its trade name and/or identifying design to be displayed upon vehicles gov- erned by this Act. 1234 [52 STAT.

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