§ 31-32-27 - Bond as proof. - Rhode Island Statutes

SECTION 31-32-27

   § 31-32-27  Bond as proof. – Proof of financial responsibility may be evidenced by the bond of a suretycompany duly authorized to transact business within this state, or a bond withat least two (2) individual sureties each owning real estate within this state,and together having equities equal in value to at least twice the amount of thebond, which real estate shall be scheduled in the bond approved by a judge of acourt of record, which bond shall be conditioned for payment of the amountsspecified in § 31-32-2. The bond shall be filed with the division of motorvehicles and shall not be cancelable except after ten (10) days' written noticeto the division of motor vehicles.