Section 257.45 - “Proof of financial responsibility” defined. - Michigan Statutes

MICHIGAN VEHICLE CODE (EXCERPT)
Act 300 of 1949

257.45 “Proof of financial responsibility” defined.

Sec. 45.

“Proof of financial responsibility” means proof of ability to respond in damages for liability, on account of accidents occurring subsequent to the effective date of the proof, arising out of the ownership, maintenance, or use of a motor vehicle, in the amount of $20,000.00 because of bodily injury to or death of 1 person in any one accident, and, subject to said limit for 1 person, in the amount of $40,000.00 because of bodily injury to or death of 2 or more persons in any one accident, and in the amount of $10,000.00 because of injury to or destruction of property of others in any one accident.

History: 1949, Act 300, Eff. Sept. 23, 1949 ;-- Am. 1958, Act 155, Eff. Sept. 13, 1958 ;-- Am. 1971, Act 191, Imd. Eff. Dec. 20, 1971