809

Every operator shall hold a public liability insurance for bodily injuries with a cover limit of not less than ten thousand dollars ($10,000) per person and not less than twenty thousand dollars ($20,000) per accident; and for damages to the property of others with a cover of not less than ten thousand dollars ($10,000).Every operator shall hold an insurance covering the risk of robbery, fire, explosion, and collision, with a deductible of not more than one hundred dollars ($100) on vehicles parked under his custody.In those cases, in which the operator cannot acquire the insurance provided in this section because of the lack of an insurance company in the local market issuing the insurance hereinbefore mentioned, he may give a bond of not less than forty thousand dollars ($40,000). Said bond may be in cash, pignorative, hypothecary, and solidary, to be given by a guarantee or bonding company or corporation authorized to do business in Puerto Rico. In cases in which the bond is in cash, it shall be given before the Secretary of the Treasury and withheld in a special account; in the other cases, the document of the bond shall be handed over to the Director.

which the bond is in cash, it shall be given before the Secretary of the Treasury and withheld in a special account; in the other cases, the document of the bond shall be handed over to the Director. Provided, That at no time, shall the total amount of the bond, thus given, be less than forty thousand dollars ($40,000). History —June 7, 1973, No. 120, p. 482, § 5.