§ 12-836. Insurance requirements

   (a) In general. -- An elevator contractor may not engage in the business of elevator installation, alteration, repair, or service work unless the work of the elevator contractor is covered by:

   (1) general liability insurance in the amount of at least $ 1,000,000; and

   (2) property damage insurance in the amount of at least $ 500,000.

(b) Proof of insurance. -- An applicant for an elevator contractor license shall submit proof of the insurance required under subsection (a) of this section to the Board with the license application.

(c) License renewal prohibited. -- Unless a licensee meets the insurance requirements of this section, the Board may not renew the license of a licensee to whom the insurance requirements of this section apply.

(d) Notice of cancellation. -- A licensed elevator contractor shall give the Board notice of the cancellation of insurance at least 10 days before the effective date of the cancellation.

HISTORY: An. Code 1957, art. 89, § 49C(u); 2003, ch. 5, § 2.