LPG Form 997B Statement in Lieu of Motor Vehicle Bodily Injury and Property Damage Liability Insurance - Texas

What Is LPG Form 997B?

This is a legal form that was released by the Railroad Commission of Texas - a government authority operating within Texas. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 997B?
A: Form 997B is a statement in lieu of motor vehiclebodily injury and property damage liability insurance in the state of Texas.

Q: When is Form 997B used?
A: Form 997B is used when an individual or business wants to self-insure for motor vehicle bodily injury and property damage liability in Texas.

Q: What does Form 997B replace?
A: Form 997B replaces the need for traditional motor vehicle bodily injury and property damage liability insurance.

Q: Who needs to submit Form 997B?
A: Individuals or businesses in Texas who want to self-insure for motor vehicle bodily injury and property damage liability need to submit Form 997B.

Q: What are the requirements for self-insurance with Form 997B?
A: To qualify for self-insurance with Form 997B, you must meet certain financial and operational requirements set by the Texas Department of Motor Vehicles.

Q: What happens if I don't have motor vehicle insurance in Texas?
A: Driving without motor vehicle insurance in Texas is illegal and can result in fines, license suspension, and other penalties.

Q: Is Form 997B valid in other states?
A: No, Form 997B is specific to the state of Texas. Other states may have their own requirements for motor vehicle insurance or self-insurance.

Q: Can I use Form 997B for commercial vehicles?
A: Yes, Form 997B can be used for both personal and commercial vehicles.

Q: Are there any limitations or restrictions with Form 997B?
A: Form 997B has specific requirements and limitations, including maintaining financial security and providing proof of compliance to the Texas Department of Motor Vehicles.