Section 25-15-92 - Liability insurance, bond, or other security required

(a) No person shall operate a carnival ride unless at the time there is in existence: (1) A policy of insurance in an amount not less than $1 million (if an independent contractor) against liability for injury to persons arising out of the operation of the carnival ride;(2) A bond in a like amount; provided, however, that the aggregate liability of the surety under such bond shall not exceed the face amount thereof; or(3) Cash or other security acceptable to the office.(b) Regulations under this article shall permit appropriate deductibles or self-insured retention amounts to such policies of insurance. The policy or bond shall be procured from one or more insurers or sureties acceptable to the office.Transferred from 34-13-14 and amended by 2012 Ga. Laws 755,§ 4, eff. 5/2/2012.