N.Y. Vehicle & Traffic Law § 371: Certificate of department of transportation in lieu of indemnity bonds or insurance policies

§ 371. Certificate of department of transportation in lieu of

indemnity bonds or insurance policies. A person, firm, association or

corporation subject to the provisions of the transportation law and

required under the provisions of section three hundred seventy of this

chapter to file evidence of a corporate surety bond or policy of

insurance with the commissioner of motor vehicles in order to so operate

any such motor vehicle, may file with the commissioner of motor

vehicles, in lieu of the surety or evidence prescribed in section three

hundred seventy of this chapter, a certificate of the department of

transportation certifying that such person, firm, association or

corporation has complied with the regulations of the department of

transportation as to public liability and property damage responsibility

and, in the case of such a person, firm, association or corporation also

engaged in the business of carrying or transporting passengers for hire

in operations not subject to the provisions of the transportation law,

that the arrangement of coverage in effect has been extended to cover

motor vehicles used in such operations.