(a) Upon receipt by the department of the report of an accident resulting in bodily injury to or death of a person, or damage to the property of any one person exceeding $501, the department shall suspend the license of the driver of a motor vehicle involved in the accident unless the driver or owner
- (1) has previously furnished or immediately furnishes security required by this chapter, or is excepted from furnishing security under AS 28.20.060; and
- (2) maintains proof of financial responsibility for three years following the accident.
- (b) This section does not apply to an owner or operator with respect to an accident in which a judgment in the owner's or operator's favor is given on a cause of action arising out of the accident that establishes the owner's or operator's freedom from fault.