Section 373
SEC. 373. For purposes of this chapter: "Motor Vehicle" is any vehicle as defined in section three, paragraph (a) of Republic Act Numbered Four Thousand One Hundred Thirty-Six, otherwise known as the "Land Transportation and Traffic Code." "Passenger" is any fare paying person being transported and conveyed in and by a motor vehicle for transportation of passengers for compensation, including persons expressly authorized by law or by the vehicle's operator or his agents to ride without fare. "Third-party" is any person other than a passenger as defined in this section. "Owner" or "Motor vehicle owner" means the actual legal owner of a motor vehicle, in whose name such vehicle is duly registered with the Land Transportation Commission. "Land transportation operator" means the owner or owners of motor vehicles for transportation of passengers for compensation, including school buses. "Insurance policy" or "Policy" refers to a contract of insurance against passenger and third-party liability for death or bodily injuries and damage to property arising from motor vehicle accidents.