| | | Be it enacted by the People of the State of Maine as follows: |
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| | | Sec. 1. 29-A MRSA §1605, sub-§3, śC, as enacted by PL 1993, c. 683, Pt. | | A, §2 and affected by Pt. B, §5, is amended to read: |
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| | C. For a corporation, by satisfying the Secretary of State | that the corporation has financial ability to comply with | the requirements of this subchapter | | paragraph A or B. |
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| | | Sec. 2. 29-A MRSA §2255-A is enacted to read: |
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| | | §2255-A.__Accidents involving vehicles owned by corporation |
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| | | 1.__Undisputed liability.__In an accident involving a vehicle | | owned by a corporation when the corporation does not dispute that | | the operator of the corporation's vehicle was at fault in the | | accident, the corporation has no more than 60 days from the date | | of the accident to make a settlement with the owner, operator or | | passenger of any other vehicle involved in the accident.__The | | corporation shall report the settlement to the Secretary of | | State. |
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| | | 2.__Disputed liability.__In an accident involving a vehicle | | owned by a corporation when the corporation disputes that the | | operator of the vehicle owned by the corporation was at fault in | | the accident, the corporation shall demonstrate to the Secretary | | of State by satisfactory evidence that the operator of the | | vehicle owned by the corporation was not at fault in the accident | | within 30 days of the accident.__If the Secretary of State | | determines that the corporation has satisfied the requirements of | | this subsection, the requirements of subsection 1 relating to | | settlement do not apply to the corporation. |
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| | | 3.__Suspension. Pursuant to chapter 23, the Secretary of State | | may suspend or revoke the certificate of registration for the | | motor vehicle owned by the corporation that was involved in the | | accident if the corporation fails to comply with the requirements | | of this section. |
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| | | The bill imposes the same requirements for proof of financial | | responsibility relating to the ownership or operation of a motor | | vehicle by an individual on a corporation. The bill also requires | | that when vehicles owned by corporations are involved in | | accidents corporations must settle with the owner, operator or | | passenger of any other vehicle involved in the accident within 60 | | days of the accident if the fault of the operator of the | | corporation's vehicle is not disputed. If the |
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