§ 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 (i) an insurer duly authorized to transact business in this state or
(ii) where a vehicle is registered by a not-for-profit organization that
is tax-exempt under section 501(c)(3) of the federal internal revenue
code, a risk retention group not chartered in this state but which is
registered with the superintendent under the federal liability risk
retention act of 1986, comprised entirely of organizations that are
tax-exempt under section 501(c)(3) of the federal internal revenue code
and where the risk retention group qualifies as a charitable risk pool
under section 501(n) of the federal internal revenue code, provided that
the vehicle being registered does not have a seating capacity of more
than fifteen passengers, is not a limousine or luxury limousine, and
where such vehicles are not solely for personal use by a director,
officer, authorized person, or key person, their relatives or related
parties; or

(c) In the case of a vehicle lawfully registered in another state, or
in both this state and another state, (i) a policy issued by an
authorized insurer, or (ii) where a vehicle is registered by a
not-for-profit organization that is tax-exempt under section 501(c)(3)
of the federal internal revenue code, a risk retention group not
chartered in this state but which is registered with the superintendent
under the federal liability risk retention act of 1986, comprised
entirely of organizations that are tax-exempt under section 501(c)(3) of
the federal internal revenue code and where the risk retention group
qualifies as a charitable risk pool under section 501(n) of the federal
internal revenue code, provided that the vehicle being registered does
not have a seating capacity of more than fifteen passengers, is not a
limousine or luxury limousine, and where such vehicles are not solely
for personal use by a director, officer, authorized person, or key
person, their relatives or related parties, or (iii) 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 them 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, except
in the case of a risk retention group not chartered in this state. 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 the
superintendent's 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, or a risk retention group authorized to issue an
owner's policy of liability insurance pursuant to subdivision four of
this section, stating in such form as the commissioner may prescribe or
approve that such company or such risk retention group 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, or a risk retention group authorized to
issue an owner's policy of liability insurance pursuant to subdivision
four of this section, stating in such form as the commissioner may
prescribe or approve that such company or such risk retention group 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 article, 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.