§ 31-9-409 — Cash and securities deposited with the director

Wyoming § 31-9-409

• Jurisdiction: Wyoming
• Title 31: Motor Vehicles
• Ch. 9: MOTOR VEHICLE SAFETY RESPONSIBILITY
• Art. 4: PROOF OF FINANCIAL RESPONSIBILITY

Text

(a) Proof of financial responsibility may be evidenced by
the certificate of the director of the department of
transportation that the person named therein has deposited
twenty-five thousand dollars ($25,000.00) in cash, or securities
as provided by W.S. 9-4-821 or as may legally be purchased for
trust funds of a market value of twenty-five thousand dollars
($25,000.00). The director shall not accept any deposit and
issue a certificate therefor and the division shall not accept
the certificates unless accompanied by evidence that there are
no unsatisfied judgments of any character against the depositor
in the county where the depositor resides. The director shall
submit receipt and acknowledgement of all deposits and payments
under this section to the state treasurer.
(b) The deposit shall be held by the director to satisfy,
in accordance with this act, any execution on a judgment issued
against the 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 injury to
or destruction of property including the loss of use thereof,
resulting from the ownership, maintenance, use or operation of a
motor vehicle after the deposit was made. Money or securities so
deposited is not subject to attachment or execution unless the
attachment or execution arises out of a suit for damages as
provided by this subsection.