46.2-453 - Proof of financial responsibility by delivering cash or securities. - Virginia Statutes

§ 46.2-453. Proof of financial responsibility by delivering cash orsecurities.

A person may give proof of financial responsibility by delivering to theCommissioner cash or securities equal to the sum of the liability coveragerequired for bodily injury or death of two or more persons in any oneaccident and injury to or destruction of property of others in any oneaccident as prescribed by § 46.2-472. Securities so deposited shall be suchas public bodies may invest in according to § 2.2-4500.

(Code 1950, § 46-474; 1954, c. 378; 1958, cc. 501, 541, § 46.1-485; 1968, c.685; 1978, c. 220; 1980, c. 484; 1986, c. 16; 1989, c. 727.)