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§47-7-330.
§47-7-330.
Proof of financial responsibility may be evidenced by the certificate
of the Department of Public Safety that the person named therein has
deposited with the Department Thirty Thousand Dollars ($30,000.00) in
cash, or a certificate of deposit issued by a financial institution
located in Oklahoma in an amount of at least Thirty Thousand Dollars
($30,000.00). The Department shall deposit any cash it receives for
this purpose in a special account of the Department which shall be
held in escrow until necessary to pay judgments as described in
Section 7-331 of this title. The Department shall obtain a written
acknowledgment from any financial institution issuing a certificate of
deposit which is used for the purpose of this section, showing the
certificate of deposit has been pledged to the Department for this
purpose. The Department shall not accept any such deposit and issue a
certificate therefor and the Department shall not accept such
certificate unless accompanied by evidence that there are no
unsatisfied judgments of any character against the depositor in the
county where the depositor resides.
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