§287-5  Security required unless evidence of
insurance.  If twenty days after the receipt of a report of a motor vehicle
accident within this State which has resulted in bodily injury or death or
damage to property of any one person in excess of $3,000, the administrator
does not have on file evidence satisfactory to the administrator that the
person who would otherwise be required to file security under section 287-6 has
been released from liability, or has been finally adjudicated not to be liable,
or has executed a duly acknowledged written agreement providing for the payment
of an agreed amount in installments with respect to all claims for injuries or
damages resulting from the accident, the administrator shall determine the
amount of security which is sufficient in the administrator's judgment to
satisfy any judgment or judgments for damages resulting from the accident as
may be recovered against each driver or owner.  This section shall be
applicable to each driver or owner notwithstanding that the administrator
determines that the amount of security required hereunder shall as to any such
driver or owner be less than $3,000. [L 1949, c 393, pt of §1; am L 1951, c
183, §1; RL 1955, §160-84; HRS §287-5; am L 1970, c 164, §3; am L 1977, c 23,
§3; am L 1980, c 84, pt of §1; gen ch 1985; am L 1990, c 39, §2; am L 1995, c
216, §2]



 



Case Notes



 



  Purpose of statute is to protect the injured members of the
public.  Where motorist involved in serious accident, financial responsibility
law may restrict the motorist's use of public highways.  146 F. Supp. 729.