My bookmarksSign up free

PD 1455 Section 23

PD 1455 Section 23

Section 23

SEC. 23. Section 379 of the same Decree is hereby amended to read as follows: "SEC. 379. No land transportation operator or owner of motor vehicle shall be unreasonably denied the policy of insurance or surety bond required by this chapter by the insurance companies authorized to issue the same, otherwise the Land Transportation Commission shall require from said land transportation operator or owner of vehicle, in lieu of a policy of insurance or surety bond, a certificate that a cash deposit has been made with the Commissioner in such amount required as limits of indemnity in section three hundred seventy-seven to answer for the passengers and/or third-party liability of such land transportation operator or owner of the vehicle. No insurance company may issue the policy of insurance or surety bond required under this chapter unless so authorized under existing laws and subject to the further condition that any such risk written or assumed shall be ceded fully to a unified pooling system to be composed of and formed by all insurance companies authorized to engage in casualty and/or surety lines of business which risk, in turn, shall be retroceded to and distributed equally among all such members. The authority to engage in the casualty and/or surety lines of business of an insurance company that refuses to join with, or withdraws or is expelled from, the pooling system licensed by the Commissioner to operate as such, shall be withdrawn immediately."

Read the full instrument →

Other provisions in PD 1455

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationPD 1455 Section 23 (LawPlayer, data as of July 4, 2026)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

Continue your research