60-513 Security; form; amount; increase or reduction. - Nebraska Statutes

60-513. Security; form; amount; increase or reduction.The security required by the Motor Vehicle Safety Responsibility Act shall be in such form and in such amount as the department may require but in no case less than one thousand dollars nor in excess of the limits specified in section 60-509. The person depositing security shall specify in writing the person or persons on whose behalf the deposit is made and, at any time while such deposit is in the custody of the department or State Treasurer, the person depositing it may, in writing, amend the specification of the person or persons on whose behalf the deposit is made to include an additional person or persons, except that a single deposit of security shall be applicable only on behalf of persons required to furnish security because of the same accident. The department may increase or reduce the amount of security ordered in any case at any time after the date of the accident if, in the judgment of the director, the amount ordered is inadequate or excessive. In case the security originally ordered has been deposited, the excess deposited over the reduced amount ordered shall be returned to the depositor or his or her personal representative immediately, notwithstanding the provisions of section 60-514. If any additional security ordered is not deposited within ten days, the Department of Motor Vehicles shall proceed under the provisions of section 60-507. SourceLaws 1949, c. 178, § 13, p. 489; Laws 1959, c. 298, § 11, p. 1116; Laws 1961, c. 320, § 1, p. 1023; Laws 2003, LB 185, § 2.