Bill > SF1772

This bill requires the Commissioner of Commerce to modify rules relating to automotive self-insurance. Specifically, it directs the Commissioner to amend the rules to: 1) base the grant of self-insurance authority on the applicant's net working capital instead of net funds flow; 2) allow the Commissioner to grant self-insurance authority to applicants that have not had positive net income or positive working capital in at least three of the last five years, if the applicant's overall financial integrity demonstrates a continuing ability to satisfy financial obligations; 3) define "working capital" for the purposes of the self-insurance rules; and 4) permit, rather than require, the Commissioner to revoke a self-insurer's authorization based on certain determinations. The bill also authorizes the Commissioner to use an expedited rulemaking process to amend the rules as specified.