Evan Low
- Democratic
- Assemblymember
- District 26
Author
Existing law requires all drivers and all owners of a motor vehicle to be able to establish financial responsibility, including, among other methods, as a self-insurer, as specified. Existing law authorizes the Department of Motor Vehicles, upon application, to issue a certificate of self-insurance to an applicant who has, among other requirements, more than 25 motor vehicles registered in their name. Existing law authorizes the director of the department to adopt and enforce rules and regulations as may be necessary to carry out the provisions of the Vehicle Code relating to the department. Existing regulations provide for the requirements to qualify as a self-insurer, including that the applicant provide an audited financial statement of the applicant's net worth, as specified, that the audited financial statements cover a 3-year period immediately preceding the date of application, and that the audited financial statements include an opinion of the applicant's net worth and reflect a net worth of not less than $2,200,000 on the date of application. This bill would place in the Vehicle Code specified requirements to qualify as a self-insurer, including an option for an applicant to provide a cash deposit or surety bond in specified amounts. The bill would require the applicant to maintain an insurance policy with certain entities, including a company licensed to provide insurance in California and nonadmitted insurers, as specified.
Vetoed by Governor.
Enrolled and presented to the Governor at 4 p.m.
In Assembly. Ordered to Engrossing and Enrolling.
Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0.).
Ordered to third reading.
From Special consent calendar by Senator Portantino
Ordered to special consent calendar.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 7. Noes 0.) (August 15).
From committee: Do pass and re-refer to Com. on APPR. (Ayes 15. Noes 0.) (June 25). Re-referred to Com. on APPR.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 72. Noes 0. Page 5514.)
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 15. Noes 0.) (May 16).
In committee: Set, first hearing. Referred to APPR. suspense file.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 15. Noes 0.) (April 22). Re-referred to Com. on APPR.
Read second time and amended.
From committee: Amend, and do pass as amended and re-refer to Com. on TRANS. (Ayes 15. Noes 0.) (April 17).
From committee chair, with author's amendments: Amend, and re-refer to Com. on INS. Read second time and amended.
From committee chair, with author's amendments: Amend, and re-refer to Com. on INS. Read second time and amended.
From printer. May be heard in committee March 17.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB2892 | HTML |
| 02/15/24 - Introduced | |
| 03/21/24 - Amended Assembly | |
| 04/09/24 - Amended Assembly | |
| 04/18/24 - Amended Assembly | |
| 09/05/24 - Enrolled |
| Document | Format |
|---|---|
| 04/16/24- Assembly Insurance | |
| 04/19/24- Assembly Transportation | |
| 05/06/24- Assembly Appropriations | |
| 05/20/24- ASSEMBLY FLOOR ANALYSIS | |
| 06/21/24- Senate Transportation | |
| 08/02/24- Senate Appropriations | |
| 08/18/24- Sen. Floor Analyses | |
| 10/10/24- ASSEMBLY FLOOR ANALYSIS |
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