Marvin Mandel, Governor                        1415

(6)    To the driver or owner of a vehicle which at the time of the
accident was parked, unless the vehicle was parked at a place parking
at the time of the accident was prohibited under any applicable law
or ordinance;

(7)    To the owner of a vehicle if at the time of the accident the
vehicle was being operated without his permission, express or im-
plied, or was parked by a person who had been operating the vehicle
without permission;

(8)    To the owner of a vehicle involved in an accident if at the
time of the accident the vehicle was owned by or leased to the United
States, this State or any political subdivision of this State or a mu-
nicipality thereof, or to the driver of the vehicle if operating it with
permission;

(9)    To the driver or the owner of a vehicle if at the time of the
accident the vehicle was being operated by or under the direction of
a police officer who, in the performance of his duties, assumed cus-
tody of the vehicle; or

(10)    To the driver or owner if, prior to the date that the depart-
ment would otherwise suspend license and registration or non-
resident's operating privilege under section 7-206, there is filed with
the department evidence satisfactory to it that the parties have
reached a mutually satisfactory settlement of all claims, or that the
person who would otherwise have to file security has been released
from liability, or has been paid for his damages by, or on behalf of,
some other person involved in the same accident, or been finally
adjudicated not to be liable or has executed a warrant for confession
of judgment, payable when and in such installments as the parties
have agreed to, or has executed a duly acknowledged written agree-
ment providing for the payment of an agreed amount in installments,
with respect to all claims for injuries or damages resulting from the
accident.

§ 7-204. Requirements as to policy or bond.

(a)    No policy or bond shall be effective under section 7-203 un-
less issued by an insurance company or surety company authorized
to do business in this State, except as provided in subsection (b) of
this section, nor unless the policy or bond is subject, if the accident
has resulted in bodily injury or death, to a limit, exclusive of interest
and costs, of not less than $15,000 because of bodily injury to or
death of one person in any one accident and, subject to this limit for
one person, to a limit of not less than $30,000 because of bodily injury
to or death of two or more persons in any one accident, and if the
accident has resulted in injury to, or destruction of, property to a
limit of not less than $5,000 because of injury to or destruction of
property of others in any one accident.

(b)    No policy or bond shall be effective under section 7-203 with
respect to any vehicle which was not registered in this State or was a
vehicle which was registered elsewhere than in this State at the
effective date of the policy or bond or the most recent renewal thereof,
unless the insurance company or surety company issuing the policy
or bond is authorized to do business in this State, or if the company
is not authorized to do business in this State, unless it executes a
power of attorney authorizing the commissioner to accept service on