(a) A person shall be relieved from the requirement for deposit of security for the benefit or protection of another person injured or damaged in the accident in the event he or she is released from liability by the other person.
(b) A covenant not to sue shall relieve the parties thereto as to each other from the security requirements of this subchapter.
(c) In the event the Office of Driver Services determines the injuries or damage to any minor is less than the amount required for depositing security for an accident under § 27-19-601, the office may accept, for the purposes of this subchapter only, evidence of a release from liability executed by a natural guardian or a legal guardian on behalf of the minor without the approval of any court or judge.
Structure Arkansas Code
Subtitle 2 - Motor Vehicle Registration and Licensing
Chapter 19 - Motor Vehicle Safety Responsibility Act
Subchapter 6 - Security Following Accident
§ 27-19-601. Applicability generally
§ 27-19-603. Determination and notice of amount of security required
§ 27-19-604. Exceptions to security requirement
§ 27-19-605. Requirements as to policy or bond
§ 27-19-606. Designation of persons covered
§ 27-19-607. Form and amount of security
§ 27-19-608. Reduction in premium for certain persons completing accident prevention course
§ 27-19-609. Authority to adjust amount limited
§ 27-19-610. Suspension for failure to deposit security
§ 27-19-611. Duration of suspension
§ 27-19-612. Agreements for payment of damages
§ 27-19-613. Release from liability
§ 27-19-614. Adjudication of nonliability
§ 27-19-615. Payment upon judgment
§ 27-19-616. Termination of security requirements
§ 27-19-617. Disposition of security
§ 27-19-618. Return of deposit
§ 27-19-619. Forfeiture when not claimed within certain period