Amount. Provisions of policy. Insurer's liability. Number of policies. Section 3 amended. by law upon such motor vehicle owner for damages on account of bodily injury or death suffered by any person or persons other than a person in the employ of such motor vehicle owner, or a person in, on or about such motor vehicle in the status of a passenger for hire as a result of accidents occurring by reason of the negligent maintenance, use or operation of such motor vehicle upon the public highways of this State; and such policy or policies of insurance shall provide a limit of liability on the part of the insurer exclusive of court costs and the expenses of investigating and defending suits for each motor vehicle covered thereby, in the sum of five thousand dollars. ($5,000) for bodily injury to or death of any one person, and subject to the same limit of liability for each person so injured or killed, in the sum of ten thousand dollars ($10,000) for bodily injury to or death of more than one person in any one accident; and shall provide for the payment, subject, however, to the aforesaid limits of liability, of any final judgment rendered against such motor vehicle owner. Such policy of insurance shall contain a provision for a continuing liability thereunder, subject, however, to the aforesaid limits of liability, notwithstanding any recovery thereon, and shall further provide that nothing contained thereon, nor the violation of any of the provisions thereof, shall relieve the insurer within the limit of liability aforesaid from the payment of any such judgment; but this provision shall not, as between the insurer and the assured, affect the rights given by the policy to the insurers against the assured because of any such violation or otherwise. The owner, at his option, may file one policy for each motor vehicle, or one policy covering two or more vehicles, or one policy covering all vehicles operated under the same ownership, with provision for substitution and addition of motor vehicles thereunder, and may file policies of different insurers. The provisions of this act, so far as may be requisite, shall be read into and deemed to form a part of any such policy. 2. Section three of the act of which this act is amendatory be and the same is hereby amended so that the same shall read as follows: added. 3. That a new paragraph be added to the act of Section 2B which this act is amendatory, which shall read as follows: 2B. Such owner shall, prior to the issuance of any Power of certificate under this act, execute and deliver to the said attorney. clerk a power of attorney, wherein and whereby the said owner shall nominate, constitute and appoint the said clerk his true and lawful attorney for the purpose of acknowledging service of any process out of a court of competent jurisdiction in any action brought to recover damages against such owner by reason of the negligent maintenance, use, or operation of any such motor vehicle as aforesaid; provided, that no owner Proviso. shall be required to file and maintain in force more than one power of attorney under this act. amended. 3. Section four of the act of which this act is amend- Section 4 atory be and the same is hereby amended so that the same shall read as follows: issued-what 3. Upon the owner's compliance with the require- Certificate ments of sections 2A and 2B of this act, the said clerk to show. shall issue to the owner a certificate for each vehicle, which certificate shall describe such vehicle and certify that the owner thereof has filed a policy and power of attorney as required by this act, and which certificate shall at all times be carried in the vehicle. It shall be Revocation. the duty of said clerk to revoke such certificate at any time when there is not on file with said clerk a valid policy, in full force and effect, and a power of attorney, as required to be filed by this act. Upon notice of such Surrender of revocation the owner of such vehicle shall surrender such certificate to said clerk or to any person designated by said clerk to receive the same, and shall cease to operate, or cause or permit to be operated, such motor vehicle. certificate. amerded. 4. Section five of the act of which this act is amenda- Section 5 tory be and the same is hereby amended so that the same shall read as follows: 4. Any policy filed under the provisions of this act may be canceled as to accidents occurring subsequent to the effective date of cancellation, by the insurer or by the owner, upon the terms and in the manner therein provided for; but such cancellation shall not be effective Notice of intent to cancel policy. Service of notice. Replacing policy. Notice of revocation sent insurer. Effect of notice. Section 6 Carrying own insurance. unless and until twenty (20) days' notice in writing of such cancellation shall have been given the said clerk. Service of such notice upon the said clerk may be made either personally or by mail, and if by mail shall be deemed complete when such notice is deposited in the post office, registered, postage prepaid, directed to the said clerk, at his official address. Immediately upon receipt of notice by said clerk of the cancellation of any such policy, or if the authority of the insurer to transact such business in the State of New Jersey shall be revoked, said clerk shall require the owner to replace such policy with another good and sufficient policy in accordance with the provisions of this act; in default of which the owner's certificate shall be revoked for all motor vehicles covered by such policy, and the owner shall thereupon cease to operate, or cause or permit to be operated, any such motor vehicle or motor vehicles. Upon revocation of the certificate of any owner by the clerk, other than for failure to file another policy upon notice of cancellation, as hereinabove provided for, notice shall be by the clerk sent to the insurer, and such notice of revocation shall operate automatically to cancel such policy for the motor vehicle for which such certificate was revoked, as to all accidents occurring subsequent to the revocation of such certificate and such insurer shall be liable for the return of the unearned premium upon such policy, as in case of cancellation by the insurer. 5. Section six of the act of which this act is amendatory be and the same is hereby amended so that the same shall read as follows: 5. Such owner, if a corporation organized under the laws of this State with a paid-up cash capital of not less than two hundred thousand dollars ($200,000), may carry its own liability insurance, as required by the provisions of this act, provided it can reasonably satisfy the Commissioner of Banking and Insurance as to the pe inanence and financial standing of its business. Exemption by Any owner desiring to be exempt from obtaining or filing such insurance policy or policies as required by this act shall make application to the Commissioner of Banking and Insurance, showing its financial ability to authority of Commissioner of Insurance. pay such damages, whereupon the Commissioner of Banking and Insurance, if reasonably satisfied of the applicant's financial ability, shall by written order make such exemption and deliver a certified copy thereof to the said clerk, which certified copy of such exemption shall remain with the said clerk in lieu of such policy or policies of insurance so long as the paid-up cash capital of said corporation shall remain at not less than two hundred thousand dollars ($200,000), and the order of the Commissioner of Banking and Insurance shall remain in force. The said clerk shall issue to such cor- Certificate of exemption. poration so exempted a certificate showing such exemption in lieu of the certificate required to be issued by section three of this act. The Commissioner of Banking Right to and Insurance may from time to time require further emption. statements of the financial ability of such company; and if at any time, in the opinion of the Commissioner of Banking and Insurance, such company appears no longer able to pay damages, the commissioner shall revoke his order granting exemption and notify the said clerk of such revocation; whereupon the said clerk shall revoke the certificate showing exemption issued by such commissioner, and the said company shall immediately insure its liability as required by the provisions of this act. 6. This act shall take effect immediately. Approved March 12, 1928. revoke ex CHAPTER 29. An Act to amend an act entitled "An act concerning BE IT ENACTED by the Senate and General Assembly of the State of New Jersey: 1. Section three of Article XXIV of the act to which this act is an amendment be and the same is hereby amended to read as follows: Section 3, Article XXIV, amended. Lighting streets by townships. 3. Nothing herein shall repeal or make void any statutory provision for the creation of lighting districts in townships, and the lighting of streets and public places in said districts, and governing bodies in townships shall have power to make any contracts for lighting for a period not exceeding five years unless otherwise provided by law. 2. This act shall take effect immediately. Preamble. Preamble. Preamble. CHAPTER 30. An Act to ratify, confirm and continue the incorporation of the borough of Millstone, in the county of Somerset, and to fix the boundaries and corporate name thereof. WHEREAS, The inhabitants of that part of the township of Hillsborough, in the county of Somerset, within the boundaries hereinafter mentioned, were organized as a borough by the name of "The Mayor and Council of the Borough of Millstone," under and by virtue of the provisions of an act of the Legislature of the State of New Jersey entitled "An act for the formation of borough governments," approved April fifth, one thousand eight hundred and seventy-eight, and the acts amendatory thereof and supplemental thereto or under some other general borough law of this State; and WHEREAS, A statement of the results of an election for the purpose of incorporation under the aforesaid act held in the borough of Millstone on the first day of May, one thousand eight hundred and ninety-four, cannot be found in the files of the office of the clerk of the county of Somerset; and WHEREAS, By virtue of the provisions of an act of the Legislature of the State of New Jersey entitled "A general act relating to boroughs (Revision of 1897)," approved April twenty-fourth, one thousand eight hundred and ninety-seven, the inhabitants of every |