An installment agreement submitted to the department must be:

1. (1) executed by the operator or owner against whom the security requirement was made;
2. (2) accepted by the owner or injured person on whose behalf such security was required;
3. (3) signed by all parties before a notary public or two witnesses; and
4. (4) submitted on Form SR-19.

Source Note:The provisions of this §25.6 adopted to be effective January 1, 1976.