§ 46.2-456 — Additional security if fund impaired by any legal process, or otherwise

Virginia § 46.2-456

• Jurisdiction: Virginia
• Title 46.2: MOTOR VEHICLES
• Subtitle II: TITLING, REGISTRATION AND LICENSURE
• Ch. 3: LICENSURE OF DRIVERS
• Art. 15: PROOF OF FINANCIAL RESPONSIBILITY

Text

Whenever the moneys or securities are subjected to attachment, garnishment, execution, or other legal process or are otherwise depleted or threatened with depletion or impairment in amount or value the depositor must immediately furnish additional moneys or securities, free from lien, claim, or threat of impairment, in sufficient amount or value fully to comply with the requirements of this chapter.

The Treasurer shall notify the Commissioner promptly of any depletion, impairment, or decrease or of any legal threat of depletion, impairment, or decrease in the value of the securities or in the moneys on deposit with him under the provisions of this chapter.

Legislative History

Code 1950, § 46-476; 1958, c. 541, § 46.1-487; 1989, c. 727.