Proof of Financial Responsibility | Midpage

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Code of Virginia

Article 15

Proof of Financial Responsibility

46.2-435Proof of financial responsibility to be furnished for each vehicle 46.2-436Methods of proving financial responsibility 46.2-437Proof of financial responsibility by owner in lieu of driver 46.2-438Proof by owner of vehicles operated under permit or certificate of State Corporation Commission or Department of Motor Vehicles 46.2-439Proof of financial responsibility in the future 46.2-440Certificate for nonresident may be by carrier not qualified in Commonwealth 46.2-441Nonresident may file proof of financial responsibility in the future from insurance company or other state-authorized entity providing insurance 46.2-442Default of foreign insurance carrier 46.2-443Chapter not applicable to certain policies of insurance 46.2-444Surety requirements of bond 46.2-445How bond to be conditioned 46.2-446Notice to Commissioner prerequisite to cancellation of bond; cancellation not to affect rights arising prior thereto 46.2-447Bond to constitute lien on real estate of surety 46.2-448Notice of cancellation; record; fees 46.2-449Cancellation of bond with individual sureties; certificates of cancellation 46.2-450Order discharging lien of bond 46.2-451Action or suit on bond 46.2-452Parties to suit on bond with individual sureties 46.2-453Proof of financial responsibility by delivering cash or securities 46.2-454Moneys or securities to be deposited with State Treasurer subject to execution 46.2-455Assessment for expense of holding deposits 46.2-456Additional security if fund impaired by any legal process, or otherwise 46.2-457Substitution of new proof; cancellation or return of old 46.2-458Interpleader to determine rights in deposits; other proceedings 46.2-459When other proof of financial responsibility required; suspension of license pending furnishing of proof required 46.2-460When Commissioner to consent to cancellation of bond or policy, or return of money or securities 46.2-461When Commissioner not to release proof of financial responsibility; affidavit of nonexistence of facts 46.2-462New license or registration to person to whom proof surrendered 46.2-463Penalty for forging evidence of financial responsibility