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AN ACT EXEMPTING NONPROFIT ORGANIZATIONS FROM THE INSURANCE AND INDEMNITY BOND REQUIREMENTS. To exempt nonprofit organizations from the insurance and indemnity bond requirements applicable to certain motor vehicle owners pursuant to subsection (a) of said section, provided the Commissioner of Motor Vehicles finds that such nonprofit organization has maintained sufficient financial responsibility to meet legal liability for personal injury, death or damage resulting from or caused by the use or operation of a service bus owned or operated by such nonprofit organization.