State Codes and Statutes
Statutes > Missouri > T19 > C303 > 303_240Cash deposit as proof of responsibility.
303.240. 1. Proof of financial responsibility may beevidenced by the certificate of the state treasurer that theperson named therein has deposited with him sixty thousanddollars in cash, or securities such as may legally be purchasedby savings banks or for trust funds of a market value of sixtythousand dollars. The state treasurer shall not accept any suchdeposit and issue a certificate therefor and the director shallnot accept such certificate unless accompanied by evidence thatthere are no unsatisfied judgments of any character against thedepositor in the county where the depositor resides.
2. Such deposit shall be held by the state treasurer tosatisfy, in accordance with the provisions of this chapter, anyexecution on a judgment issued against such person making thedeposit, for damages, including damages for care and loss ofservices because of bodily injury to or death of any person, orfor damages because of injury to or destruction of property,including the loss of use thereof, resulting from the ownership,maintenance, use or operation of a motor vehicle after suchdeposit was made. Money or securities so deposited shall not besubject to attachment or execution unless such attachment orexecution shall arise out of a suit for damages as aforesaid.
(L. 1953 p. 569 § 303.250, A.L. 1965 p. 481, A.L. 1981 S.B. 201)
