A. The state treasurer may issue a certificate that gives evidence of proof of financial responsibility that the person named in the certificate has deposited with the state treasurer forty thousand dollars in cash or certificates of deposit with a value of forty thousand dollars issued by a financial institution.

Terms Used In Arizona Laws 28-4084

  • 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.
  • Director: means the director of the department of transportation. See Arizona Laws 28-101
  • 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.
  • including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
  • Judgment: means a 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 and that is rendered by a court of competent jurisdiction of any state or of the United States on a cause of action either:

    (a) Arising out of the ownership, maintenance or use of a motor vehicle for damages, including damages for care and loss of services, because of either bodily injury to or death of a person or injury to or destruction of property, including the loss of use of the property. See Arizona Laws 28-4001

  • Motor vehicle: means a self-propelled vehicle that is registered or required to be registered under the laws of this state. See Arizona Laws 28-4001
  • Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
  • Proof of financial responsibility: means proof of ability to respond in damages for liability on account of accidents occurring after the effective date of the proof and arising out of the ownership, maintenance or use of a motor vehicle, in the amounts required by section 28-4009 or 28-4033. See Arizona Laws 28-4001
  • Property: includes both real and personal property. See Arizona Laws 1-215
  • State: means a state, territory or possession of the United States, the District of Columbia or a province of the Dominion of Canada. See Arizona Laws 28-4001

B. The state treasurer shall not accept the deposit and issue a certificate for and the director shall not accept the certificate unless the depositor provides evidence that there are no unsatisfied judgments of any kind against the depositor in the county where the depositor resides.

C. The state treasurer shall hold the deposit to satisfy, in accordance with this chapter, an 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 a person or for damages because of injury to or destruction of property, including the loss of use of the property, resulting from the ownership, maintenance, use or operation of a motor vehicle after the deposit is made.

D. Monies or certificates of deposit deposited pursuant to this section are not subject to attachment or execution unless the attachment or execution arises out of a suit for damages described in subsection C.

E. Deposits of cash or certificates of deposit under this section do not satisfy the financial responsibility requirements prescribed in article 2 of this chapter.

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