Proof of financial responsibility when required under this chapter may be given by the following alternate methods, either by proof:

1. (1) that a policy or policies of aircraft liability insurance have been obtained and are in full force and effect;
2. (2) that a bond has been duly executed; or

3. (3) that deposit has been made of money or securities;

   all as provided in this chapter.

As amended by P.L.66-1984, SEC.138.