Requires vessel owners or operators to maintain financial responsibility evidence with the department.

This bill amends the navigation law to require the owner or operator of a vessel to establish and maintain evidence of financial responsibility with the department. This evidence must be sufficient to meet the amount of liability. The bill also allows for the acceptance of financial responsibility demonstrated under the Federal Oil Pollution Act of 1990. The commissioner can revoke acceptance if fraud or misrepresentation was involved or if circumstances change. The bill defines "third-party insurer" and sets the expiration period for proof of financial responsibility.

Requires vessel owners or operators to maintain financial responsibility evidence with the department.

This bill amends the navigation law to require the owner or operator of a vessel to establish and maintain evidence of financial responsibility with the department. This evidence must be sufficient to meet the amount of liability. The bill also allows for the acceptance of financial responsibility demonstrated under the Federal Oil Pollution Act of 1990. The commissioner can revoke acceptance if fraud or misrepresentation was involved or if circumstances change. The bill defines "third-party insurer" and sets the expiration period for proof of financial responsibility.