§ 39-16-10 — Deposit of security with Bank of North Dakota - Release - How payment made

made.
1. Security deposited in compliance with the requirements of this chapter must be placed
by the director in the custody of the Bank of North Dakota and must be applied as in
subsection 2 only to the payment of a judgment rendered against the person on whose
behalf the deposit was made, for damages arising out of the accident in question in an
action at law, begun not later than one year after the date of such accident, or within
one year after the date of deposit of any security under subsection 3 of section
39-16-07, and such deposit or any balance thereof must be returned to the depositor
or the depositor's personal representative, when evidence satisfactory to the director
has been filed with the director that there has been a release from liability, or a final
adjudication of nonliability, or a confession of judgment, or a duly acknowledged
agreement, in accordance with subsection 3 of section 39-16-06, or whenever, after
the expiration of one year from the date of the accident, or within one year after the
date of deposit of any security under subsection 3 of section 39-16-07, the director is
given reasonable evidence that there is no such action pending and no judgment
rendered in such action left unpaid. Upon certification by the director, the Bank of
North Dakota shall return any security deposited with the director under the provisions
of this chapter to the person entitled thereto except as provided for in subsection 3.
2. Such deposit must be held by the Bank of North Dakota to satisfy, in accordance with
the provisions of this chapter, any execution on a judgment issued against the person
for whom such deposit was made, 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 in the
accident which resulted in the requirement for the deposit of such security. Money or
securities so deposited shall not be subject to attachment or execution unless such
attachment or execution arises out of a suit for damages as aforesaid.
3. All payments and refunds made from cash deposits in the Bank of North Dakota under
this chapter must be made upon a warrant-check issued by the department of
transportation after submission of a duly authorized voucher.