§47-7-503.

§47-7-503.
   
   (a) Any person in whose name more than twenty-five vehicles are
   registered in this state may qualify as a self-insurer by obtaining a
   certificate of self-insurance issued by the Department as provided in
   subsection (b) of this section.
   
   (b) The Department may, in its discretion, upon the application of
   such a person, issue a certificate of self-insurance when it is
   satisfied that such person is possessed and will continue to be
   possessed of ability to pay judgment obtained against such person.
   Such certificate may be issued authorizing a person to act as a
   self-insurer for either property damage or bodily injury, or both.
   
   (c) Upon not less than five (5) days' notice and a hearing pursuant to
   such notice, the Department may upon reasonable grounds cancel a
   certificate of self-insurance. Failure to pay any judgment within
   thirty (30) days after such judgment shall have become final shall
   constitute a reasonable ground for the cancellation of a certificate
   of self-insurance.