New York § 315 Release of financial security bonds or deposits

New York Statutes

§ 315 — Release of financial security bonds or deposits

New York § 315

Law VATVehicle & Traffic

Title 3Safety Responsibility; Financial Security; Equipment; Inspection; Size and Weight; and Other Provisions

Art. 6Motor Vehicle Financial Security Act

This text of New York § 315 (Release of financial security bonds or deposits) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Vehicle & Traffic § 315 (2026).

Text

§ 315. Release of financial security bonds or deposits.

1.The\ncommissioner, upon the surrender of the registration and number plates\nfor a motor vehicle for which a financial security bond or deposit was\naccepted by the commissioner, shall permit the cancellation of any such\nbond or shall direct that any such deposit be returned by the\ncommissioner of taxation and finance. The commissioner shall not release\nsuch bond or deposit in the event any action for damages upon a\nliability referred to in this article is then pending or any judgment\nupon any such liability then outstanding and unsatisfied, or in the\nevent the commissioner has received notice that such person has within\nthe period of three months immediately preceding been involved as a\ndriver in any motor vehicle accide

Free access — add to your briefcase to read the full text and ask questions with AI

§ 315. Release of financial security bonds or deposits. 1. The\ncommissioner, upon the surrender of the registration and number plates\nfor a motor vehicle for which a financial security bond or deposit was\naccepted by the commissioner, shall permit the cancellation of any such\nbond or shall direct that any such deposit be returned by the\ncommissioner of taxation and finance. The commissioner shall not release\nsuch bond or deposit in the event any action for damages upon a\nliability referred to in this article is then pending or any judgment\nupon any such liability then outstanding and unsatisfied, or in the\nevent the commissioner has received notice that such person has within\nthe period of three months immediately preceding been involved as a\ndriver in any motor vehicle accident. An affidavit of the applicant of\nnon-existence of such facts shall be sufficient evidence thereof in the\nabsence of evidence to the contrary in the records of the bureau.\n 2. The commissioner, subject to such reasonable regulations as he may\nestablish shall permit the form of proof of financial security\nacceptable under this article to be substituted for another form of\nproof of financial security which may already have been accepted by the\ncommissioner as complying with the provisions of this article.\n