§ 361. Self-insurers. (a) This article, except sections three hundred
thirty-nine and three hundred fifty-nine, shall not apply to any person
having registered in his name in this state more than twenty-five motor
vehicles if such person shall obtain from the commissioner a certificate
of self-insurance as provided for in subdivision (b) of this section.

(b) The commissioner may, in his discretion, upon the application of
such a person, issue a certificate of self-insurance when he is
reasonably satisfied that such person is possessed and will continue to
be possessed of financial ability to respond to judgments, as
hereinbefore described, obtained against such person, arising out of the
ownership, maintenance, use or operation of any of such person's motor
vehicles.

(c) Upon due notice and hearing, the commissioner, may, in his
discretion and upon reasonable grounds, cancel a certificate of
self-insurance.