1. (a) No motor vehicle shall be registered in this state unless the application for such registration is accompanied by proof of financial security which shall be evidenced by proof of insurance or evidence of a financial security bond, a financial security deposit or qualification as a self-insurer under section three hundred sixteen; provided that, if directed by regulation of the commissioner, upon renewal of registration an application accompanied by a certificate of registration or renewal stub in force immediately preceding the date of application for renewal, together with a statement in a form prescribed by the commissioner certifying that there is in effect proof of financial security, shall meet the requirements of this section. Upon the issuance or renewal of a private passenger automobile insurance policy subject to the provisions of § 167 of the insurance law, the insurance company shall provide the insured with an informational statement outlining the legal and financial consequences of convictions under section one thousand one hundred ninety-two of this chapter, pertaining to operating a motor vehicle while under the influence of alcohol or drugs. Such information shall be supplied to the company by the state department of financial services in consultation with the commissioner.

Terms Used In N.Y. Vehicle and Traffic Law 312

  • certificate of insurance: shall mean any evidence issued by or on behalf of an insurance company duly authorized to transact business in this state, stating in such form as the commissioner may prescribe or approve that such company has issued an owner's policy of liability insurance on the motor vehicle or vehicles designated therein. See N.Y. Vehicle and Traffic Law 311
  • 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.
  • financial security bond: shall mean for each motor vehicle a bond executed by the owner and by a surety company duly authorized to transact business in this state. See N.Y. Vehicle and Traffic Law 311
  • financial security deposit: shall mean for each motor vehicle the deposit with the commissioner of twenty-five thousand dollars in cash, or securities, such as may legally be purchased by savings banks or trust funds, of a market value of twenty-five thousand dollars and an additional deposit in an amount determined by the commissioner to be sufficient to satisfy the requirements of Article 51 of the insurance law. See N.Y. Vehicle and Traffic Law 311
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • proof of financial security: shall mean proof of ability to respond in damages for liability arising out of the ownership, maintenance or use of a motor vehicle as evidenced by an owner's policy of liability insurance, a financial security bond, a financial security deposit, or qualifications as a self-insurer under section three hundred sixteen of this chapter or, in the case of a non-resident, under self-insurance provisions of the laws of the jurisdiction of such non-resident. See N.Y. Vehicle and Traffic Law 311
  • self-insurer: shall mean a person who shall have been determined by the commissioner in accordance with section three hundred sixteen to be financially responsible. See N.Y. Vehicle and Traffic Law 311
  • state: when used in this article shall unless the context clearly indicates otherwise, mean any state, territory or possession of the United States, the District of Columbia or any province of the Dominion of Canada. See N.Y. Vehicle and Traffic Law 311

(b) The owner of such motor vehicle shall maintain proof of financial security continuously throughout the registration period and his failure to produce proof of financial security when requested to do so upon demand of a magistrate, motor vehicle inspector, peace officer, acting pursuant to his special duties, or police officer, while such vehicle is being operated upon the public highway, shall be presumptive evidence of operating a motor vehicle without proof of financial security. Upon the production of proof of financial security such presumption is removed. Production of proof of financial security may be made by mailing such proof to the court having jurisdiction in the matter, and any necessary response by such court or acknowledgement of the production of such proof may also be made by mail. When insurance with respect to any motor vehicle, other than a motorcycle, is terminated the owner shall surrender forthwith his registration certificate and number plates of the vehicle to the commissioner unless proof of financial security otherwise is maintained in compliance with this article.

2. No financial security bond shall be accepted by the commissioner unless it is conditioned for payments in amount and under the same terms and conditions as are required for an owner’s policy of liability insurance.

3. No financial security deposit shall be accepted by the commissioner except in accordance with the provisions of section three hundred fourteen.

4. The commissioner is hereby authorized to promulgate reasonable regulations to provide effective administration and enforcement of the provisions of this article in accordance with the purposes thereof.

5. Notwithstanding any inconsistent provisions of this article, the commissioner may by regulation, in lieu of the provisions of subdivision one requiring the submission of a certificate of insurance or evidence of a financial security bond, require that an insurance identification card be presented each time a vehicle is registered or a registration is renewed in this state.