GroundRules
49 CFR 387.417: Fiduciaries.
Where this section sits in the code
- Title 49—Transportation
- Subtitle B—Other Regulations Relating to Transportation
- CHAPTER III—FEDERAL MOTOR CARRIER SAFETY ADMINISTRATION, DEPARTMENT OF TRANSPORTATION
- SUBCHAPTER B—FEDERAL MOTOR CARRIER SAFETY REGULATIONS
- PART 387—MINIMUM LEVELS OF FINANCIAL RESPONSIBILITY FOR MOTOR CARRIERS
- Subpart D—Surety Bonds and Policies of Insurance for Freight Forwarders
(a) Interpretations. The terms “insured” and “principal” as used in a certificate of insurance, surety bond, and notice of cancellation, filed by or for a freight forwarder, include the freight forwarder and its fiduciary (as defined at 49 CFR 387.319(a)) as of the moment of succession.
(b) Span of security coverage. The coverage furnished for a fiduciary shall not apply after the effective date of other insurance or security, filed with and accepted by the FMCSA for such fiduciary. After the coverage shall have been in effect 30 days, it may be cancelled or withdrawn within the succeeding 30 days by the insurer, the insured, the surety, or the principal 10 days after the FMCSA receives written notice. After such coverage has been in effect 60 days, it may be cancelled or withdrawn only in accordance with § 387.413(d).
Collected 2026-08-27T02:26:34Z. Source file · JSON