A person may give proof of financial responsibility by delivering to the Commissioner cash or securities equal to the sum of the liability coverage required for bodily injury or death of two or more persons in any one accident and injury to or destruction of property of others in any one accident as prescribed by § 46.2-472. Securities so deposited shall be such as public bodies may invest in according to § 2.2-4500.

Terms Used In Virginia Code 46.2-453

  • Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230

Code 1950, § 46-474; 1954, c. 378; 1958, cc. 501, 541, § 46.1-485; 1968, c. 685; 1978, c. 220; 1980, c. 484; 1986, c. 16; 1989, c. 727.

  Previous section
Next section  
 Article 15 Contents