324.161 Proof of financial responsibility; surety bond or deposit. - Florida Statutes

324.161 Proof of financial responsibility; surety bond or deposit.

The certificate of the department of a deposit may be obtained by depositing with it $30,000 cash or securities such as may be legally purchased by savings banks or for trust funds, of a market value of $30,000 and which deposit shall be held by the department to satisfy, in accordance with the provisions of this chapter, any execution on a judgment issued against such person making the deposit, for damages because of bodily injury to or death of any person or for damages because of injury to or destruction of property resulting from the use or operation of any motor vehicle occurring after such deposit was made. Money or securities so deposited shall not be subject to attachment or execution unless such attachment or execution shall arise out of a suit for damages as aforesaid.

History. s. 1, ch. 29963, 1955; ss. 13, 35, ch. 69-106; s. 91, ch. 94-306.

Note. Former s. 324.11.