TITLE 31
Motor and Other vehicles

CHAPTER 31-31
Safety Responsibility Administration – Security Following Accident

SECTION 31-31-20


§ 31-31-20 Application of security.

(a) The security shall be applicable and available only:

(1) For the payment of any settlement agreement covering any claim arising out of the accident upon instruction of the person who made the deposit, or

(2) For the payment of a judgment or judgments, rendered against the person required to make the deposit, for damages arising out of the accident in an action at law begun not later than three (3) years after the date of an accident and/or occurrence.

(b) Every distribution of funds from the security deposits shall be subject to the limits of the division's evaluation on behalf of a claimant.

History of Section.
(P.L. 1993, ch. 4, § 2.)