S0153.02I

SB 43 - This act makes several changes to the requirements for motor vehicle financial responsibility (insurance).

REGISTRATION - Evidence of financial responsibility is required for vehicle registration, and notice of this requirement must be made in bold, colored print. The penalty for false declarations must be stated. Registered and licensed commercial motor carriers are not subject to this requirement.

PENALTIES - People cancelling insurance must notify the Department of Revenue and file new evidence of insurance. Reinstatement fees are reduced to $20. Two exceptions are made to the requirement for showing proof of financial responsibility for a 3-year period.

GENERAL - Local governments shall not regulate more strictly than the state. Insurance requirements are applied to unregistered vehicles. The Department of Revenue is given 120 days for decisions after hearings. Uninsured motorist coverage is no longer required, but it must be offered by insurers.

MIKE HOEFERKAMP