Sec. 601.166. PAYMENT OF CASH SECURITY. (a) Cash security may be applied only to the payment of:
(1) a judgment rendered against the person on whose behalf the deposit is made for damages arising out of the accident; or
(2) a settlement, agreed to by the depositor, of a claim arising out of the accident.
(b) For payment under Subsection (a), the action under which the judgment was rendered must have been instituted before the second anniversary of the later of:
(1) the date of the accident; or
(2) the date of the deposit, in the case of a deposit of security under Section 601.162(b).
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
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