§ 39-16.1-15 — Deposit of cash with the Bank of North Dakota

North Dakota § 39-16.1-15

• Jurisdiction: North Dakota
• Title 39: Motor Vehicles
• Ch. 39-16.1: Proof of Financial Responsibility for the Future

Text

1. Proof of financial responsibility may be evidenced by the certificate of the Bank of
North Dakota that the person named therein has deposited with it twenty-five thousand
dollars in cash, or securities such as may legally be purchased by savings banks or for
trust funds of a market value of twenty-five thousand dollars. The Bank of North
Dakota may not accept any such deposit and issue a certificate therefor and the
director may not accept such certificate unless accompanied by evidence that there
are no unsatisfied judgments of any character against the depositor in the county
where the depositor resides.
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 such
person making the deposit 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 damages 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
deposit was made. Money or securities so deposited are not subject to attachment or
execution unless such attachment or execution arises out of a suit for damages as
aforesaid.