NY Veh & Traf L § 311 (2021)
2021 New York Laws VAT - Vehicle and Traffic Title 3 - Safety Responsibility; Financial Security; Equipment; Inspection; Size and Weight; and Other Provisions Article 6 - Motor Vehicle Financial Security Act 311 - Definitions.

§ 311. Definitions. As used in this article:   1.   The  term  "superintendent"  shall  mean  the  superintendent  of financial services of this state.   2. The term "motor vehicle" shall be defined as in section one hundred twenty-five of this chapter, except that it shall also include trailers, semi-trailers and tractors other  than  tractors  used  exclusively  for agricultural  purposes, and shall exclude fire and police vehicles, farm equipment,  including  self-propelled  machines  used   exclusively   in growing,  harvesting or handling farm produce, tractors used exclusively for agricultural purposes, or for snow plowing other than for hire,  and self-propelled   caterpillar   or  crawler-type  equipment  while  being operated on the contract site.   3. The term "proof of financial security" shall mean proof of  ability to  respond  in  damages  for  liability  arising  out of the ownership, maintenance or use of a motor vehicle as evidenced by an owner's  policy of  liability insurance, a financial security bond, a financial security deposit, or qualifications as a self-insurer under section three hundred sixteen of this chapter  or,  in  the  case  of  a  non-resident,  under self-insurance  provisions  of  the  laws  of  the  jurisdiction of such non-resident.  Notwithstanding  any  other  provision  of  any  law   or regulation, any proof of financial security shall for any self-propelled motor  vehicle  also  provide  coverage  required by this article to any non-commercial trailer hauled by any such motor vehicle,  other  than  a mobile  home.  For  the  purposes  of  this  article,  a  mobile home or "manufactured home" means a mobile home or manufactured home as  defined in section one hundred twenty-two-c of this chapter.   4.  The  term  "owner's  policy  of  liability insurance" shall mean a policy  (a) Affording coverage as defined in the minimum provisions prescribed in a regulation which shall be  promulgated  by  the  superintendent  at least   ninety   days   prior   to  effective  date  of  this  act.  The superintendent before promulgating such  regulations  or  any  amendment thereof,  shall  consult  with all insurers licensed to write automobile liability insurance in  this  state  and  shall  not  prescribe  minimum provisions  which fail to reflect the provisions of automobile liability insurance policies, other  than  motor  vehicle  liability  policies  as defined  in  section  three  hundred  forty-five of this chapter, issued within this state at the date of such regulation or  amendment  thereof. Nothing  contained  in such regulation or in this article shall prohibit any insurer from affording coverage under an owner's policy of liability insurance more liberal than that required by  said  minimum  provisions. Every such owner's policy of liability insurance shall provide insurance subject  to  said  regulation against loss from the liability imposed by law for damages, including  damages  for  care  and  loss  of  services, because  of  bodily  injury  to  or death of any person and injury to or destruction of property arising out of the ownership, maintenance,  use, or  operation  of  a specific motor vehicle or motor vehicles within the state of New York, or elsewhere in the United States in North America or the Dominion of Canada, subject to a limit, exclusive  of  interest  and costs,  with  respect  to each such motor vehicle except a tow truck, of twenty-five thousand dollars because of bodily  injuries  to  and  fifty thousand dollars because of death of one person in any one accident and, subject  to  said  limit  for  one  person, to a limit of fifty thousand dollars because of bodily injury to and  one  hundred  thousand  dollars because  of  death  of two or more persons in any one accident, and to a limit of ten thousand dollars because of injury  to  or  destruction  of property  of  others  in  any  one accident provided, however, that such policy need not be for a period coterminous with the registration period  of the vehicle insured. The limit, exclusive of interest and costs, with respect to a tow truck shall be a combined  single  limit  of  at  least three  hundred thousand dollars because of bodily injury or death to one or  more  persons  or  because  of  injury or destruction of property of others in any one accident, and  to  a  limit  of  twenty-five  thousand dollars  because of damage to a vehicle in the care, custody and control of the insured. Any insurer authorized to issue  an  owner's  policy  of liability  insurance  as  provided  for in this article may, pending the issue of such a policy, make an agreement, to be known as a  binder,  or may,  in  lieu of such a policy, issue a renewal endorsement or evidence of renewal of an existing policy; each of which shall  be  construed  to provide indemnity or protection in like manner and to the same extent as such  a  policy.  The  provisions  of  this  article shall apply to such binders, renewal endorsements or evidences of renewal. Every such policy issued insuring private passenger vehicles  and  every  renewal  policy, renewal  endorsement,  or  other  evidence  of renewal issued shall have attached thereto a rating information form which clearly  specifies  and defines  the  rating  classification  assigned  thereto,  including  any applicable merit rating plan; and  (b) In the case of a vehicle registered in this state, a policy issued by an insurer duly authorized to transact business in this state; or  (c) In the case of a vehicle lawfully registered in another state,  or in  both  this  state  and  another  state, either a policy issued by an authorized insurer, or  a  policy  issued  by  an  unauthorized  insurer authorized  to  transact  business in another state if such unauthorized insurer files with the commissioner in form to  be  approved  by  him  a statement  consenting  to  service of process and declaring its policies shall be deemed to be varied to comply with  the  requirements  of  this article; and  (d) The form of which has been approved by the superintendent. No such policy  shall  be  issued or delivered in this state until a copy of the form of policy shall have been on file with the  superintendent  for  at least   thirty   days,   unless   sooner  approved  in  writing  by  the superintendent,  nor  if  within  said  period  of   thirty   days   the superintendent  shall  have  notified the carrier in writing that in his opinion, specifying the reasons therefor, the form of  policy  does  not comply with the laws of this state.   5.  The term "certificate of insurance" shall mean any evidence issued by or on behalf of an insurance  company  duly  authorized  to  transact business  in  this  state,  stating in such form as the commissioner may prescribe or approve that such company has issued an owner's  policy  of liability insurance on the motor vehicle or vehicles designated therein. Such   certificate   shall   contain  information  as  required  by  the commissioner including  at  least  the  following  except  as  otherwise provided:  (a) The name and address of the person to whom the policy was issued.  (b) The number and effective period of the policy. If all of the motor vehicles  owned  by one person during a defined period are insured under the same owner's  policy  of  liability  insurance  the  certificate  of insurance  may  so  state and it shall then not be necessary to identify the specific vehicle insured. The requirements of this  article  for  an owner's  policy  of liability insurance may be fulfilled by the policies of one or more insurance carriers  which  policies  together  meet  such requirements.  (c)  As to new policies, a statement that at least ten per cent of the annual premium due on the policy has been paid. For the purposes of this paragraph a transfer of insurance from one  company  to  another  by  an agent or broker shall not be considered the issuance of a new policy.    6.  The  term  "financial  security  bond"  shall  mean for each motor vehicle a bond executed by the  owner  and  by  a  surety  company  duly authorized  to  transact  business  in  this  state.  The  provisions of subdivision (e) of section three  hundred  forty-nine  of  this  chapter shall apply to such bond.   7.  The  term  "financial  security deposit" shall mean for each motor vehicle the  deposit  with  the  commissioner  of  twenty-five  thousand dollars  in  cash,  or  securities,  such as may legally be purchased by savings banks or trust funds, of a market value of twenty-five  thousand dollars  and  an  additional  deposit  in  an  amount  determined by the commissioner to be sufficient to satisfy  the  requirements  of  article fifty-one of the insurance law.   8.  The  term  "self-insurer"  shall mean a person who shall have been determined by the commissioner in accordance with section three  hundred sixteen to be financially responsible.   9. The word "state" when used in this article shall unless the context clearly  indicates otherwise, mean any state, territory or possession of the United States, the District of  Columbia  or  any  province  of  the Dominion of Canada.   10.  "Insurance Identification Card" shall mean a card issued by or on behalf of an insurance company or bonding  company  duly  authorized  to transact   business   in  this  state,  stating  in  such  form  as  the commissioner may prescribe or approve that such company  has  issued  an owner's  policy  of  liability insurance or a financial security bond on the motor vehicle  or  vehicles  designated  therein.  Such  card  shall contain such information and shall be valid during such period as may be prescribed by the commissioner. If an owner shall have filed a financial security  deposit,  or  shall  have  qualified  as  a self-insurer under section three hundred sixteen  of  this  chapter,  the  term  "insurance identification  card"  shall  mean a card issued by the department which evidences that such deposit has been filed or that  such  owner  has  so qualified.