Delaware Code Title 21 Sec. 2951 – Money or securities as proof
(a) Proof of financial responsibility may be evidenced by the certificate of the State Treasurer that the person named therein has deposited with the State Treasurer $40,000 in cash or securities such as may legally be purchased by savings banks or for trust funds of a market value of $40,000. The State Treasurer shall not accept any such deposit nor issue a certificate therefor and the Secretary of Transportation shall not accept such certificate unless accompanied by evidence that there are no unsatisfied judgments of any character against the depositor in the county where the depositor resides.
Terms Used In Delaware Code Title 21 Sec. 2951
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- 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.
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
(b) Such deposit shall be held by the State Treasurer to satisfy, in accordance with 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.
Code 1935, § ?5712O; 48 Del. Laws, c. 359, § ?2; 21 Del. C. 1953, § ?2951; 50 Del. Laws, c. 456, § ?4; 57 Del. Laws, c. 670, § ?12A; 64 Del. Laws, c. 198, § ?7; 70 Del. Laws, c. 186, § ?1; 74 Del. Laws, c. 110, § ?78;