Section 379
SEC. 379. In case a land transportation operator or owner of motor vehicle is refused insurance by the insurance companies authorized to issue the policy of insurance required by this chapter, the Land Transportation Commission shall require from said land transportation operator or owner of the vehicle, in lieu of a policy of insurance, a certificate that a cash deposit or surety bond has been deposited and/or filed with the Commissioner in the amounts required as limits of indemnity in section three hundred seventy-seven to answer for the passenger and/or third-party liability of such land transportation operator or owner of the vehicle.