Louisiana Revised Statutes 32:904 – Money or securities as proof
Terms Used In Louisiana Revised Statutes 32:904
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Commissioner: means the Department of Public Safety and Corrections. See Louisiana Revised Statutes 32:851
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Judgment: means any judgment which shall have become final by expiration without appeal of the time within which a suspensive appeal might have been perfected or by final affirmation on appeal, rendered by a court of competent jurisdiction of any state or of the United States, upon a cause of action arising out of the ownership, maintenance, or use of any motor vehicle, for damages, including damages for care and loss of services, because of bodily injury to or death of any person, or for damages because of injury to or destruction of property including the loss of use thereof, or upon a cause of action on an agreement of settlement for such damages. See Louisiana Revised Statutes 32:851
- Motor vehicle: means every self-propelled vehicle (except traction engines, road rollers, farm tractors, electric-assisted bicycles, tractor cranes, power shovels, and well drillers) and every vehicle which is propelled by electric power obtained from overhead wires but not operated upon rails. See Louisiana Revised Statutes 32:851
- Person: means every natural person, firm, co-partnership, association, or corporation. See Louisiana Revised Statutes 32:851
- State: means any state, territory, or possession of the United States, the District of Columbia, or any province of the Dominion of Canada. See Louisiana Revised Statutes 32:851
A.(1) Proof of financial responsibility may be evidenced by the certificate of the state treasurer that the person named therein has deposited with him thirty thousand dollars in cash or securities such as may legally be purchased by savings banks or for trust funds of a market value of thirty thousand dollars.
(2) The state treasurer shall not accept any such deposit and issue a certificate therefor and the commissioner shall not accept such certificate unless accompanied by evidence that there are no unsatisfied judgments of any character against the depositor in the parish where the depositor resides.
B. Such deposit shall be held by the State Treasurer to satisfy, in accordance with the provisions of this Chapter, any execution on a judgment issued against such person making the deposit, for damages, including damages for care and loss of services, because of bodily injury to or death of any person, or for damages because of injury to or destruction of property, including the loss of use thereof, resulting from the ownership, maintenance, use or operation of a motor vehicle after such deposit was made. Money or securities so deposited shall not be subject to attachment or execution unless such attachment or execution shall arise out of a suit for damages as aforesaid.
Acts 1952, No. 52, §25. Acts 1984, No. 237, §1.