Proof of financial responsibility definition

Proof of financial responsibility means proof of ability to respond in damages for liability, on account of accidents occurring after the effective date of the proof, arising out of the ownership, maintenance, or use of a motor vehicle, in the amount of twenty-five thousand dollars because of bodily injury to or death of one person in any one accident, and, subject to the limit for one person, in the amount of fifty thousand dollars because of bodily injury to or death of two or more persons in any one accident, and in the amount of twenty-five thousand dollars because of injury to or destruction of property of others in any one accident.
Proof of financial responsibility means proof of ability to respond in damages for liability, on account of accidents occurring subsequent to the effective date of the proof, arising out of the ownership, maintenance, or use of a motor vehicle, in amounts as follows:
Proof of financial responsibility means proof of the ability of a licensee to respond in damages for liability on account of accidents or wrongdoings occurring subsequent to the effective date of the proof, arising out of ownership and operation of a bail enforcement business, private security business or a private investigation business.

Examples of Proof of financial responsibility in a sentence

  • Proof of financial responsibility, as set forth in NRS 485.307, is an additional requirement for reinstatement of the operator’s license and registrations under this section.


More Definitions of Proof of financial responsibility

Proof of financial responsibility means a bond, deposit, proof of an established escrow account or trust account ensuring that sufficient funds will be available to comply with the closure and long−term care requirements of this chapter and the approved plan of operation.
Proof of financial responsibility means proof of ability to respond in damages for
Proof of financial responsibility means, pursuant to Indiana Code § 9-25-2-3, proof of ability to respond in damages for liability that arises out of the ownership, maintenance, or use of a Golf Cart in the following amounts:
Proof of financial responsibility means proof of
Proof of financial responsibility means proof of ability to re-
Proof of financial responsibility means proof of ability
Proof of financial responsibility means proof of ability to respond in damages for liability thereafter incurred arising out of the ownership, maintenance, or use of a motor vehicle in amounts not less than those specified under IC 9-25-2-3 and IC 9-25-