Section 1042.

(a) Every passenger stage corporation shall furnish the commission annually, as specified by the commission, a list, prepared under oath, of all vehicles used in transportation for compensation during the preceding year. The commission shall furnish a copy of this list to the Department of the California Highway Patrol and to the corporation's insurer, if the corporation's accident liability protection is provided by a policy or policies of insurance.

(b) If the passenger stage corporation's insurer informs the commission that the corporation has failed to obtain insurance coverage for any vehicle reported on the list, the commission may, in addition to any other applicable penalty provided in this part, for a first occurrence, suspend the corporation's certificate or impose a fine, or both, and for a second or subsequent occurrence may suspend or revoke the certificate or impose a fine, or both.

(Added by Stats. 1988, Ch. 916, Sec. 4.)