California Vehicle Code 16435 v2 – (a) Proof of financial responsibility may be given by the …
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(a) Proof of financial responsibility may be given by the deposit of seventy-five thousand dollars ($75,000) as provided in Section 16054.2. The department shall not accept a deposit where any judgment theretofore obtained against that person as a result of damages arising from the operation of any motor vehicle shall not have been paid in full.
(b) The deposit requirement in subdivision (a) shall be increased by fifty thousand dollars ($50,000) on January 1, 2035.
Terms Used In California Vehicle Code 16435 v2
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Department: means the Department of Motor Vehicles except, when used in Chapter 2 (commencing with Section 2100) of Division 2 and in Divisions 11 (commencing with Section 21000), 12 (commencing with Section 24000), 13 (commencing with Section 29000), 14 (commencing with Section 31600), 14. See California Vehicle Code 290
- 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
(c) This section shall become operative on January 1, 2025.
(Repealed (in Sec. 6) and added by Stats. 2022, Ch. 717, Sec. 7. (SB 1107) Effective January 1, 2023. Operative January 1, 2025, by its own provisions.)