Montana Code 61-6-138. Money or securities as proof of responsibility
61-6-138. Money or securities as proof of responsibility. (1) Proof of financial responsibility may be evidenced by the certificate of the state treasurer that the person named in the certificate has deposited with the treasurer $55,000 in cash, or securities that may legally be purchased by savings banks or for trust funds of a market value of $55,000. The state treasurer may not accept any deposit and issue a certificate and the department may not accept the 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 Montana Code 61-6-138
- 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.
- Department: means the department of justice acting directly or through its duly authorized officers or agents. See Montana Code 61-1-101
- 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 that has become final by expiration without appeal of the time within which an 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 of property, or upon a cause of action on an agreement of settlement for damages. See Montana Code 61-6-102
- Motor vehicle: means :
(i)a vehicle propelled by its own power and designed or used to transport persons or property on the highways of the state;
(ii)a quadricycle if it is equipped for use on the highways as prescribed in chapter 9; or
(iii)a golf cart only if it is equipped for use on the highways as prescribed in chapter 9 and is operated pursuant to 61-8-391 or by a person with a low-speed restricted driver's license. See Montana Code 61-1-101
- Person: means every natural person, firm, partnership, association, or corporation. See Montana Code 61-6-102
- Proof of financial responsibility: means proof of ability to respond in damages for liability on account of accidents occurring subsequent to the effective date of the proof of financial responsibility, arising out of the ownership, maintenance, or use of a motor vehicle. See Montana Code 61-6-102
- Property: means real and personal property. See Montana Code 1-1-205
- State: means any state, territory, or possession of the United States, the District of Columbia, or any province of the Dominion of Canada. See Montana Code 61-6-102
(2)The deposit must be held by the state treasurer to satisfy, in accordance with the provisions of this part, any execution on a judgment issued against the 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 of property, resulting from the ownership, maintenance, use, or operation of a motor vehicle after the deposit was made. Money or securities deposited may not be subject to attachment or execution unless the attachment or execution arises out of a suit for damages as described in this subsection.