(a)Proof of financial responsibility may be evidenced by the bond of a surety company authorized to transact business within this State or a bond with at least 2 individual sureties each owning real estate within this State and together having equities equal in value to at least twice the amount of such bond. The real estate shall be scheduled in the bond approved by a judge of a court of record, and the bond shall be conditioned for payment of the amounts specified in the definition of “proof of financial responsibility” contained in § 101 of this title. Such bond shall be filed with the Secretary of Transportation and shall not be cancellable except after 10 days’ written notice to the Secretary of Transportation. Such bond shall constitute a lien in favor of the State upon the real est
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(a) Proof of financial responsibility may be evidenced by the bond of a surety company authorized to transact business within this State or a bond with at least 2 individual sureties each owning real estate within this State and together having equities equal in value to at least twice the amount of such bond. The real estate shall be scheduled in the bond approved by a judge of a court of record, and the bond shall be conditioned for payment of the amounts specified in the definition of “proof of financial responsibility” contained in § 101 of this title. Such bond shall be filed with the Secretary of Transportation and shall not be cancellable except after 10 days’ written notice to the Secretary of Transportation. Such bond shall constitute a lien in favor of the State upon the real estate so scheduled of any surety, which lien shall exist in favor of any holder of a final judgment against the person who has filed such bond, for damages, including damages for care and loss of services because of bodily injury to or death of any person, or for damages because of injury to or destruction of property, including the loss of use thereof, resulting from the ownership, maintenance, use or operation of a motor vehicle after such bond was filed, upon the filing of notice to that effect by the Secretary of Transportation in the office of the prothonotary of any county in the State wherein any such real estate is located. The prothonotary shall enter such lien in an appropriate docket kept by the prothonotary for that purpose.
(b) If such judgment rendered against the principal on such bond is not satisfied within 60 days after it has become final, the judgment creditor may, for the judgment creditor’s own use and benefit and at the judgment creditor’s sole expense, bring an action or actions in the name of the State against the company or persons executing such bond, including an action or proceeding to foreclose any lien that may exist upon the real estate of a person who has executed such bond in accordance with Chapter 75 of Title 10.