The provisions of this chapter, requiring deposit of security, filing of proof of financial responsibility, and suspensions for failure to deposit security or file proof of financial responsibility, subject to certain exemptions, shall apply to the driver and owner of any vehicle of a type subject to registration under the motor vehicle laws of this state which is in any manner involved in an accident upon the highways and elsewhere throughout the state, which accident has resulted in bodily injury to or death of any person or damage to the property of any one person in excess of Three Hundred Dollars ($300.00). Laws 1961, p. 353, § 7-201; Laws 1965, c. 187, § 1, emerg. eff. June 8, 1965; Laws 1972, c. 160, § 1; Laws 1980, c. 100, § 1, eff. Oct. 1, 1980; Laws 1980, c. 235, § 1, eff. Jan. 1, 1981.
Notes of Decisions
Mulford v. Neal, 2011 OK 20 (Okla. 2011).
“¶ 16 The fault-based financial responsibility statutes 1) require owners or operators of motor vehicles involved in an accident to deposit security for the damages, 47 O.S.2001 §§ 7-201, et seq., as amended; and 2) upon conviction of an offense under the motor vehicle laws or…”
Bobby Lee Smith (Bankr. W.D. Okla. 2022).
“3 Likewise, the Oklahoma Financial Responsibility Act, 47 O.S. § 7-201, concerned with ensuring the public’s protection against injuries from automobile accidents, mandates liability insurance for any “driver and owner of any vehicle type subject to registration under the motor…”
Carman v. Fishel, 418 P.2d 963 (Okla. 1966).
“The enactment by our legislature of the Oklahoma Motor Vehicle Safety Responsibility Act, 47 O.S.1961, §§ 7-201 to 7-219, expresses the public interest and concern in automobile liability insurance contracts.”
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