344.17 Requirements as to form and amount of security.
(1) The security required under s. 344.14 shall be in such form and in such amount as the secretary may require but in no case in excess of the limits specified in s. 344.15 (1) with reference to the acceptable limits of a policy or bond. The person depositing security shall specify in writing the person or persons on whose behalf the deposit is made and, at any time while such deposit is in the custody of the secretary, the person depositing it may, in writing, amend the specification of the persons on whose behalf the deposit is made to include an additional person or persons, subject to the limitation that a single deposit of security shall be applicable only on behalf of persons required to furnish security because of the same accident.
(2) The secretary may reduce the amount of security ordered in any case if, in the secretary's judgment, from evidence submitted, the amount ordered is excessive or has become excessive by filed release on part of the liability or by adjudication reducing the extent of the liability. In case the security originally ordered had been deposited at the time the reduced amount is ordered, the excess over the reduced amount shall be returned to the depositor or the personal representative forthwith, notwithstanding s. 344.20.
History: 1973 c. 189 s. 20; Sup. Ct. Order, 67 Wis. 2d 585, 776 (1975); 1975 c. 218, 270, 421, 422; 1977 c. 29 s. 1654 (7) (c); 1977 c. 43, 273.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 344 - Vehicles — financial responsibility.
344.01 - Words and phrases defined.
344.02 - Hearing on suspension or impoundment.
344.04 - Power of court to stay suspension of registration or impoundment of vehicles.
344.05 - Courts to report nonpayment of certain judgments.
344.07 - Responsibility law not to prevent other process.
344.08 - Suspension for failure to report accident.
344.09 - Reinstatement of operating privilege and registration.
344.12 - Applicability of provisions relating to deposit of security for past accidents.
344.14 - Suspension for failure to deposit security; impoundment of vehicle; exceptions.
344.15 - Requirements as to policy or bond.
344.16 - Requirements as to self-insurers.
344.17 - Requirements as to form and amount of security.
344.18 - Duration of suspension for failure to deposit security.
344.185 - Duration of impoundment of motor vehicle; disposition.
344.20 - Custody, disposition and return of security.
344.21 - Matters not to be evidence in civil suits.
344.24 - Applicability of sections relating to proof of financial responsibility for the future.
344.25 - Suspension for nonpayment of judgment; exceptions.
344.26 - Suspension after judgment for money damages.
344.27 - Installment payment of judgments; suspension upon default.
344.29 - Proof of financial responsibility for the future required.
344.30 - Methods of giving proof of financial responsibility.
344.31 - Certification of insurance as proof.
344.33 - “ Motor vehicle liability policy" defined.
344.34 - Notice of cancellation or termination of certified policy.
344.35 - This chapter not to affect other policies.
344.37 - Money or securities as proof.
344.38 - Owner and leasing company may give proof for others.
344.39 - Substitution of proof.
344.40 - Revocation or suspension for failure to maintain proof; other proof may be required.
344.41 - Duration of proof; when proof may be canceled or returned.
344.42 - Submission of certifications and recertifications by insurers.
344.45 - Surrender of license and registration upon suspension.
344.46 - Transfer of vehicle ownership to defeat purpose of chapter.
344.51 - Financial responsibility for domestic rented or leased vehicles.
344.52 - Financial responsibility for foreign rented vehicles.
344.55 - Insurance for human service vehicles.
344.57 - Definitions applicable to ss. 344.57 to 344.579.
344.572 - Applicability to rental agreements.
344.574 - Limited liability for damage.
344.577 - Advertisement or representation.
344.578 - Credit card for deposit or damages.
344.62 - Motor vehicle liability insurance required.
344.63 - Exceptions to motor vehicle liability insurance requirement.