New Mexico Statutes 66-5-208. Evidence of financial responsibility; amounts and conditions
“Evidence of financial responsibility,” as used in the Mandatory Financial Responsibility Act, means evidence of the ability to respond in damages for liability, on account of accidents occurring subsequent to the effective date of the evidence, arising out of the ownership, maintenance or use of a vehicle of a type subject to registration under the laws of New Mexico, in the following amounts:
Terms Used In New Mexico Statutes 66-5-208
- 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.
A. twenty-five thousand dollars ($25,000) because of bodily injury to or death of one person in any one accident;
B. subject to this limit for one person, fifty thousand dollars ($50,000) because of bodily injury to or death of two or more persons in any one accident;
C. ten thousand dollars ($10,000) because of injury to or destruction of property of others in any one accident; and
D. if evidence is in the form of a surety bond or a cash deposit, the total amount shall be sixty thousand dollars ($60,000).