Connecticut General Statutes 15-111 – Custody and release of security
Security deposited in compliance with the requirements of this chapter shall be delivered to the executive director and shall be placed by the executive director in the custody of the State Treasurer and shall be released only: (1) Upon a certificate of the executive director in the payment of a judgment rendered against the person or persons on whose behalf the deposit was made, for damages arising out of the accident in a civil action begun not later than two years after the date of the accident or within two years after the date of deposit of any security under subdivision (1) of subsection (c) of § 15-107, or in the payment of a settlement, agreed to by the depositor and all the claimants, of a claim or claims arising out of the accident; (2) upon a certificate of the executive director issued after ten days’ notification of all claimants upon evidence satisfactory to the executive director that all claims arising from such accident have been satisfied by either (A) a release from liability, (B) a judgment of nonliability, (C) a written agreement in accordance with subdivision (8) of subsection (c) of § 15-105, or (D) whenever after the expiration of two years from the time of the accident or from the date of deposit of any security under subdivision (1) of subsection (c) of § 15-107, the executive director is given satisfactory evidence that there is no such action pending and that no judgment rendered in any such action is unpaid; (3) upon the certificate of the executive director that other security, complying with subsection (a) of § 15-110 and satisfactory in form, character and amount, has been deposited with it in lieu of the original security deposited hereunder.
Terms Used In Connecticut General Statutes 15-111
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- 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 which 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 claim for damages suffered by a claimant arising out of the ownership, operation, maintenance or use of any aircraft, including damages for care and loss of services, because of bodily injury to or death of any person or injury to or destruction of property, including the loss of use thereof, or upon an agreement of settlement for such damages. See Connecticut General Statutes 15-102
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.