(a) As promptly as practicable but not later than thirty days after receipt of an accident report as required in § 15-104, the executive director shall determine by an order entered of record (1) the amount of security within the limits specified in § 15-106, which the executive director deems sufficient to satisfy any judgment for damages resulting from the accident which may be recovered against each owner or operator, and (2) the name and address of each claimant.

(b) As promptly as practicable but not later than thirty days after the entry of the order required by subsection (a) of this section, the executive director, unless there is deposited for the benefit of the owner or operator or both, as the case may be, security in the sum so determined by the executive director, upon ten days’ notification shall suspend: (1) The operating privilege of the owner and of all aircraft owned by the owner; or (2) the operating privilege of the operator.

(c) The requirements as to security and suspension do not apply: (1) To the operator or the owner of the aircraft if the executive director determines upon satisfactory evidence that the operator or owner is not charged with responsibility for the accident by the claimants, or to the operator of an aircraft involved in an accident in which no injury was caused to the person of anyone other than the operator, and no damage in excess of three hundred dollars was caused to property not owned, rented, occupied or used by such operator nor in his or her care, custody or control nor carried in or on the aircraft; (2) to the operator or owner of an aircraft if at the time of the accident the aircraft was stationary, without passengers thereon or boarding the aircraft or alighting therefrom and the aircraft was parked in an area legally used for aircraft parking with no engine running nor in the process of being started; (3) to the owner of an aircraft if at the time of the accident the aircraft was being operated, or was parked, without the owner’s permission, express or implied; (4) to the owner if there is in effect at the time of the accident an aircraft liability policy or bond with respect to the aircraft involved in the accident; (5) to the operator, if not the owner of the aircraft, if there is in effect at the time of the accident an aircraft liability policy or bond with respect to the operator’s operation of the aircraft involved in the accident; (6) to the operator or owner if his or her liability for damages resulting from such accident is covered by any other form of liability insurance policy or bond in effect at the time of the accident; (7) to any person qualifying as a self-insurer under § 15-108, or to any person operating an aircraft for the self-insurer for whose acts the self-insurer is legally responsible; nor (8) after there is filed with the executive director satisfactory evidence that the person otherwise required to deposit security has (i) been released from liability; or (ii) been adjudicated not to be liable by judgment, or (iii) executed a written agreement with all claimants providing for payment of an agreed amount with respect to all claims for injuries or damages resulting from the accident.

(d) The requirements as to suspension may be waived by the executive director, in his or her discretion, if there is filed with the executive director by all claimants consent in writing that the person hereunder chargeable be allowed continuing operating privilege. If such waiver is granted by the executive director, it shall continue for six months from the date of the consent and thereafter unless the consent is revoked in writing.

(e) The executive director may take the actions authorized hereby or may modify or rescind the same at any time necessary to carry out the provisions of this chapter upon ten days’ notification of the persons affected thereby.