A. Definitions: When used in this section, the following words and terms shall have the meanings ascribed to them in this subsection:
COMMERCIAL AUTO COVERAGE: Coverage provided to an insured, regardless of the number of vehicles or entity covered, under a commercial auto, garage or trucker's coverage form or rated from either a commercial manual or rating rule as filed and approved by the Insurance Department. Vehicle type and ownership are not necessarily the primary factors in either underwriting the coverage or rating the coverage.
COMPULSORY INSURANCE LAW: The law requiring liability insurance, which provides the minimum vehicle liability limits, in conjunction with the operation of a motor vehicle in this State as found in this section.
OPERATOR'S POLICY: A policy of motor vehicle liability insurance which shall insure the named person against loss from the liability imposed upon the named person by law for damages arising out of the operation or use by the named person of any motor vehicle not owned by the named person, subject to the same limits of liability required in an owner's policy.
OWNER'S POLICY: A policy of motor vehicle liability insurance which:
1. Shall designate, by explicit description or by appropriate reference, all vehicles with respect to which coverage is thereby to be granted.
2. Shall insure the person named therein and insure any other person, except as provided by subsection 3 of this definition, using an insured vehicle with the express or implied permission of the named insured, against loss from the liability imposed by law for damages arising out of the ownership, maintenance, operation or use of the vehicle.
3. May provide for exclusions from coverage in accordance with existing laws; and
4. Shall be issued by an authorized insurer providing coverage in accordance with 47 Oklahoma Statutes section 7-204 or in the case of a commercial automobile insurance policy, may be issued by an unauthorized insurer as allowed pursuant to 36 Oklahoma Statutes section 1106.
SECURITY: 1. A policy meeting the minimum vehicle liability limits;
2. A deposit of cash or securities as defined in 47 Oklahoma Statutes section 7-330 having the equivalency of the minimum vehicle liability limits;
3. Self-insurance pursuant to the provisions of 47 Oklahoma Statutes 7-503, having the equivalency of the minimum vehicle liability limits; or
4. For vehicles registered pursuant to the provisions of 47 Oklahoma Statutes section 1127, a policy meeting or exceeding the minimum vehicle liability limits; provided, the policy may be issued by an insurance company authorized to do business in the state of residence or domicile of the member of the Armed Forces and the motor license agent or other registering agency shall accept the security verification form issued by such insurance company.
SECURITY VERIFICATION FORM: A form, approved by the Insurance Commissioner, verifying the existence of security required by the Compulsory Insurance Law. (2018 Code)
B. Proof Of Insurance Required:
1. Every operator of a motor vehicle registered in this State shall, while operating or using such vehicle within the Town's boundaries, carry either an operator's or an owner's security verification form issued from a carrier, provided the operator is not excluded from coverage thereon; or an equivalent form issued by the Department of Public Safety, reflecting liability coverage.
2. The owner of a motor vehicle registered in this State and operating the vehicle within the Town's boundaries shall carry in such vehicle at all times a current owner's security verification form listing the vehicle, or an equivalent form which has been issued by the State Department of Public Safety, which shall be produced by any driver thereof upon request for inspection by any law enforcement officer and, in case of a collision, the form shall be shown upon request to any person affected by the collision.
C. Exemptions: The following shall not be required to carry an owner's or operator's security verification form, or an equivalent form from the department, during operation of the vehicle and shall not be required to surrender such form for vehicle registration purposes:
1. Any vehicle owned or leased by the Federal or State government, or any agency or political subdivision thereof;
2. Any vehicle bearing the name, symbol or logo of the business, corporation or utility on the exterior, and which is in compliance with the Compulsory Insurance Law according to records of the Department of Public Safety and which reflect a deposit, bond, self-insurance, or fleet policy;
3. Any vehicle authorized for operation under a permit number issued by the Interstate Commerce Commission or the Oklahoma Corporation Commission;
4. Any licensed taxicab; and
5. Any vehicle owned by a licensed motor vehicle dealer.
D. Enforcement And Penalty:
1. An owner or operator who fails to produce for inspection a valid and current security verification form, or equivalent form which has been issued by the department, upon the request of any peace officer of the department shall be guilty of a misdemeanor and, upon conviction, shall be subject to a fine as provided in section 1-4-1 of this Code.
2. Any person producing proof in court that a current verification form, or equivalent form which has been issued by the department reflecting this liability coverage, was in force at the time of the alleged offense shall be entitled to dismissal of such charge. Court costs may be assessed by the Town.
3. Upon conviction or bond forfeiture, the Court Clerk shall forward an abstract to the State Department of Public Safety within ten (10) days reflecting the action taken by the court. (2014 Code § 15-229)