§ 8-21-3-4 — Security; filing proof of financial responsibility

(a) The department may require, within not less
than ten (10) days nor more than sixty (60) days after an aircraft
accident from any person, who, while operating any aircraft shall have
been involved in any aircraft accident resulting in bodily injury or
death to any person or in damage to property of another, other than
property owned, rented, occupied, or used by, or in the care, custody or
control of the owner or operator or carried in or on the aircraft, in
excess of seven thousand five hundred dollars ($7,500), or, in the
discretion of the department, the owner of such aircraft, or both,
security sufficient in the discretion of the department to indemnify the
injured party against loss and guarantee the payment and satisfaction
of any judgment or judgments for damages resulting from such
accident as may be recovered against such owner or operator by or on
behalf of the injured person or the injured person's legal representative,
and in addition thereto, the department may require such operator, or
in the department's discretion, the owner of such aircraft, or both, to file
proof of financial responsibility for a period of one (1) year following
the date of the accident: Provided, however, that if such owner operator
shall satisfy the department that the liability, if any, for damages
resulting from such accident is insured by an insurance policy or bond,
the department shall not require security from such owner operator.
(b) Such security, where ordered, shall be in such form and in such
amount as the department may require, but in no case in excess of the
amount of proof required by section 8 of this chapter. The department
may modify the amount of security ordered in any case, if after further
investigation it shall determine that the amount ordered is improper.
Formerly: Acts 1951, c.267, s.4; Acts 1953, c.85, s.3. As
amended by Acts 1980, P.L.74, SEC.319; P.L.50-2024, SEC.3.