Sec. 601.163. FORM OF SECURITY. (a) The security required under this subchapter shall be made:
(1) by cash deposit;
(2) through a bond that complies with Section 601.168; or
(3) in another form as required by the department.
(b) A person depositing security shall specify in writing the person on whose behalf the deposit is made. A single deposit of security is applicable only on behalf of persons required to provide security because of the same accident and the same motor vehicle.
(c) The person depositing the security may amend in writing the specification of the person on whose behalf the deposit is made to include an additional person. This amendment may be made at any time the deposit is in the custody of the department or the comptroller.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995. Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 18.10, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 7 - Vehicles and Traffic
Subtitle D - Motor Vehicle Safety Responsibility
Chapter 601 - Motor Vehicle Safety Responsibility Act
Subchapter F. Security Following Accident
Section 601.151. Applicability of Subchapter
Section 601.152. Suspension of Driver's License and Vehicle Registration or Privilege
Section 601.153. Deposit of Security; Evidence of Financial Responsibility
Section 601.154. Department Determination of Probability of Liability
Section 601.155. Notice of Determination
Section 601.156. Setting of Hearing
Section 601.157. Hearing Procedures
Section 601.159. Procedures for Suspension of Driver's License and Vehicle Registration or Privilege
Section 601.160. Suspension Stayed Pending Hearing or Appeal
Section 601.161. Notice of Suspension
Section 601.162. Duration of Suspension
Section 601.163. Form of Security
Section 601.164. Reduction in Security
Section 601.165. Custody of Cash Security
Section 601.166. Payment of Cash Security
Section 601.167. Return of Cash Security
Section 601.168. Insurance Policy or Bond; Limits
Section 601.169. Reasonable Probability Not Admissible in Civil Suit