(a) The suspension of a driver’s license, vehicle registration, or nonresident’s operating privilege under this subchapter remains in effect, the license, registration, or privilege may not be renewed, and a license or vehicle registration may not be issued to the holder of the suspended license, registration, or privilege, until:
(1) the date the person, or a person acting on the person’s behalf, deposits security and files evidence of financial responsibility under § 601.153;
(2) the second anniversary of the date of the collision, if evidence satisfactory to the department is filed with the department that, during the two-year period, an action for damages arising out of the collision has not been instituted; or
(3) the date evidence satisfactory to the department is filed with the department of:
(A) a release from liability for claims arising out of the collision;
(B) a final adjudication that the person is not liable for claims arising out of the collision; or
(C) an installment agreement described by § 601.154(d)(3).
(b) If a suspension is terminated under Subsection (a)(3)(C), on notice of a default in the payment of an installment under the agreement, the department shall promptly suspend the driver’s license and vehicle registration or nonresident’s operating privilege of the person defaulting. A suspension under this subsection continues until:
(1) the person deposits and maintains security in accordance with § 601.153 in an amount determined by the department at the time of suspension under this subsection and files evidence of financial responsibility in accordance with § 601.153; or
(2) the second anniversary of the date security was required under Subdivision (1) if, during that period, an action on the agreement has not been instituted in a court in this state.