California Vehicle Code 16434 – (a) Proof of financial responsibility may be given by a bond. …
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(a) Proof of financial responsibility may be given by a bond. The bond shall be conditioned for the payment of the amount specified in Section 16430, and shall provide for the entry of judgment on motion of the state in favor of any holder of any final judgment on account of damages to property over one thousand dollars ($1,000) in amount, or injury to any person caused by the operation of the person’s motor vehicle.
(b) This section shall become operative on January 1, 2017.
Terms Used In California Vehicle Code 16434
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- motor vehicle: includes a recreational vehicle as that term is defined in subdivision (a) of §. See California Vehicle Code 415
- Person: includes a natural person, firm, copartnership, association, limited liability company, or corporation. See California Vehicle Code 470
(Repealed (in Sec. 44) and added by Stats. 2015, Ch. 451, Sec. 45. (SB 491) Effective January 1, 2016. Section operative January 1, 2017, by its own provisions.)