73-18c-306. Certificate of self-funded coverage as proof of owner's or operator's security.
(1) The division may, upon the application of any person, issue a certificate of self-funded coverage when it is satisfied that the person has: more than 24 motorboats; and on deposit, in a form approved by the division, cash or securities in an amount of $200,000 plus $100 for each motorboat up to and including 1,000 motorboats and $50 for each motorboat over 1,000 motorboats.
(2) Persons holding a certificate of self-funded coverage under this chapter shall pay benefits to persons injured from the self-funded person's operation, maintenance, and use of motorboats as would an insurer issuing a policy to the self-funded person containing the coverages under Sectionsand. 31A-22-1502 31A-22-1503
(3) In accordance with, the division may, upon reasonable grounds, cancel the certificate. Failure to pay any judgment up to the limit under Subsectionwithin 30 days after the judgment is final is a reasonable ground to cancel the certificate. Title 63G, Chapter 4, Administrative Procedures Act 31A-22-1503(2)
(4) Any government entity with self-funded coverage for government-owned motorboats under, meets the requirements of this section. Title 63G, Chapter 7, Governmental Immunity Act of Utah