§287-5  Security required unless evidence ofinsurance.  If twenty days after the receipt of a report of a motor vehicleaccident within this State which has resulted in bodily injury or death ordamage to property of any one person in excess of $3,000, the administratordoes not have on file evidence satisfactory to the administrator that theperson who would otherwise be required to file security under section 287-6 hasbeen released from liability, or has been finally adjudicated not to be liable,or has executed a duly acknowledged written agreement providing for the paymentof an agreed amount in installments with respect to all claims for injuries ordamages resulting from the accident, the administrator shall determine theamount of security which is sufficient in the administrator's judgment tosatisfy any judgment or judgments for damages resulting from the accident asmay be recovered against each driver or owner.  This section shall beapplicable to each driver or owner notwithstanding that the administratordetermines that the amount of security required hereunder shall as to any suchdriver or owner be less than $3,000. [L 1949, c 393, pt of §1; am L 1951, c183, §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, c216, §2]

 

Case Notes

 

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