- A person may give proof of financial responsibility by delivering to the director money in an amount or securities approved by said director and of a market value in a total amount as would be required for coverage in a motor vehicle liability policy furnished by the person giving such proof under this article. Such securities shall be of a type which may legally be purchased by savings banks or for trust funds.
- All money or securities so deposited shall be subject to execution to satisfy any judgment mentioned in this article but shall not otherwise be subject to attachment or execution.
Source: L. 94: Entire title amended with relocations, p. 2487, § 1, effective January 1, 1995.
Cross references: For permitted investments by savings and loan association, see § 11-41-114; for fiduciary investments, see part 3 of article 1 of title 15.