324.161
Proof of financial responsibility; deposit.
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324.161 Proof of financial responsibility; deposit.—Annually, before any certificate of insurance may be issued to a person, including any firm, partnership, association, corporation, or other person, other than a natural person, proof of a certificate of deposit of $30,000 issued and held by a financial institution must be submitted to the department. A power of attorney will be issued to and held by the department and may be executed upon a judgment issued against such person making the deposit, for damages because of bodily injury to or death of any person or for damages because of injury to or destruction of property resulting from the use or operation of any motor vehicle occurring after such deposit was made. Money 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.
History.—s. 1, ch. 29963, 1955; ss. 13, 35, ch. 69-106; s. 91, ch. 94-306; s. 69, ch. 2013-160.
Note.—Former s. 324.11.
Notes of Decisions
Cited in 3
cases, 1963–1974 · leading case: Howard v. American Service Mutual Insurance Co.
Howard v. American Service Mutual Insurance Co. (1963)
“021(7), or "(3) Furnishing a certificate of the state treasurer showing a deposit of cash or securities in accordance with § 324.161, or "(4) Furnishing a certificate of self-insurance issued by the commissioner in accordance with § 324.”
Roth v. Cannel (1970)
“State Farm reasons that because the Owner’s liability policy was, prior to the accident, certified as proof of financial responsibility for the future, under § 324.161, Fla.Stat., F.S.A., the insurance coverage was extended to a driver with only implied, and not express,…”
McKinney v. O'Malley (1974)
“021(7), or (3) Furnishing a certificate of the state treasurer showing a deposit of cash or securities in accordance with § 324.161, or (4) Furnishing a certificate of self-insurance issued by the commissioner in accordance with § 324.”
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