(a) Proof of financial responsibility may be evidenced by the certificate of the State Treasurer that the person named in the certificate has deposited with him or her $50,000 in cash, or securities that may legally be purchased by savings banks or for trust funds of a market value of $50,000. The State Treasurer shall not accept the deposit and issue a certificate pursuant to this section and the director shall not accept the certificate unless accompanied by evidence that there are no unsatisfied judgments of any character against the depositor in the county where the depositor resides.
(b) The deposit shall be held by the State Treasurer to satisfy, in accordance with the provisions of this chapter, any execution on a judgment issued against the person making the deposit, for damages, including damages for care and loss of services, because of bodily injury to or death of any person, or for damages because of injury to or destruction of property, including the loss of use of property resulting from the ownership, maintenance, use, or operation of a motor vehicle after the deposit was made. Money or securities so deposited shall not be subject to attachment or execution unless the attachment or execution shall arise out of an action for damages as provided in this subsection.
Structure Code of Alabama
Title 32 - Motor Vehicles and Traffic.
Chapter 7 - Motor Vehicle Safety-Responsibility Act.
Section 32-7-1 - Citation of Chapter.
Section 32-7-3 - Administration of Chapter; Appeal to Court.
Section 32-7-4 - Director to Furnish Operating Record.
Section 32-7-5 - Report Required Following Accident.
Section 32-7-6 - Security Required; Suspensions; Applicability.
Section 32-7-6.1 - Motor Vehicle Liability Insurance Coverage.
Section 32-7-7 - Further Exceptions to Requirement of Security.
Section 32-7-8 - Duration of Suspension.
Section 32-7-10 - Form and Amount of Security.
Section 32-7-11 - Custody, Disposition and Return of Security.
Section 32-7-12 - Matters Not to Be Evidence in Civil Actions.
Section 32-7-13 - Courts to Report Nonpayment of Judgments.
Section 32-7-15 - Suspension to Continue Until Judgments Paid and Proof Given.
Section 32-7-16 - Payments Sufficient to Satisfy Requirements.
Section 32-7-17 - Installment Payment of Judgments.
Section 32-7-18 - Proof of Financial Responsibility Required Upon Certain Convictions.
Section 32-7-20 - Certificate of Insurance as Proof.
Section 32-7-21 - Certificate Furnished by Nonresident as Proof.
Section 32-7-22 - Motor Vehicle Liability Policy Defined; Policy Provisions.
Section 32-7-23 - Uninsured Motorist Coverage; "Uninsured Motorist" Defined; Limitation on Recovery.
Section 32-7-24 - Notice of Cancellation or Termination of Certified Policy.
Section 32-7-25 - Chapter Not to Affect Other Policies.
Section 32-7-26 - Bond as Proof of Financial Responsibility.
Section 32-7-27 - Money or Securities as Proof.
Section 32-7-28 - Owner May Give Proof for Others.
Section 32-7-29 - Substitution of Proof.
Section 32-7-30 - Additional Proof May Be Required.
Section 32-7-31 - Duration of Proof; When Proof May Be Cancelled or Returned.
Section 32-7-32 - Transfer of Registration to Defeat Purpose of Chapter Prohibited.
Section 32-7-33 - Surrender of License and Registration.
Section 32-7-34 - Self-Insurers.
Section 32-7-35 - Assigned Risk Plans.
Section 32-7-37 - Other Violations; Penalties.
Section 32-7-38 - Employment of Necessary Employees.
Section 32-7-40 - Chapter Supplemental to Other Laws.
Section 32-7-41 - Chapter Not to Prevent Other Process.