§47-7-601.

§47-7-601.
   
   A. Until January 1, 1983, every owner of a motor vehicle registered in
   this state, other than a licensed used motor vehicle dealer, shall, at
   all times, maintain in force with respect to such vehicle security for
   the payment of loss resulting from the liability imposed by law for
   bodily injury, death and property damage sustained by any person
   arising out of the ownership, maintenance, operation or use of the
   vehicle. As used herein, "security" means:
   
   1. A policy or bond meeting the requirements of Section 7-204 of this
   title;
   
   2. A deposit of cash or securities having the equivalency of limits
   required under Section 7-204 of this title as acceptable limits for a
   policy or bond; or
   
   3. Self-insurance, pursuant to the provisions of Section 7-503 of this
   title, having the equivalency of limits required under Section 7-204
   of this title as acceptable limits for a policy or bond.
   
   B. On and after January 1, 1983, every owner of a motor vehicle
   registered in this state, other than a licensed used motor vehicle
   dealer, shall, at all times, maintain in force with respect to such
   vehicle security for the payment of loss resulting from the liability
   imposed by law for bodily injury, death and property damage sustained
   by any person arising out of the ownership, maintenance, operation or
   use of the vehicle. Every person, while operating or using a motor
   vehicle registered in this state which is not owned by such person,
   shall maintain in force security for the payment of loss resulting
   from the liability imposed by law for bodily injury, death or property
   damage sustained by any person arising out of the operation or use of
   the vehicle, unless such security has been provided by the owner in
   accordance with this section which does not exclude said person from
   coverage.
   
   C. 1. On and after September 1, 1993, unless otherwise provided by
   law, no motor vehicle shall be operated in this state unless there is
   in effect with respect to such vehicle security for the payment of
   loss resulting from the liability imposed by law for bodily injury,
   death and property damage sustained by any person arising out of the
   ownership, maintenance, operation or use of the vehicle. Every person,
   while operating or using a motor vehicle in this state which is not
   owned by such person, shall maintain in force security for the payment
   of loss resulting from the liability imposed by law for bodily injury,
   death or property damage sustained by any person arising out of the
   operation or use of the vehicle, unless such security has been
   provided by the owner in accordance with this section which does not
   exclude said person from coverage. Proof of such security shall be
   carried in the vehicle at all times and shall be produced for
   inspection upon request by any law enforcement officer or
   representative of the Department and, in case of collision, such proof
   shall be shown upon request of any person affected by the collision.
   
   2. The nonresident owner of a motor vehicle not registered in this
   state may give proof of financial responsibility by providing proof of
   compliance with the financial responsibility laws of the state in
   which the vehicle is registered or by filing with the Department a
   certificate of an insurance company authorized to transact insurance
   in the state in which the vehicle is registered, or if such
   nonresident does not own a motor vehicle, then in the state in which
   the insured resides, provided such certificate otherwise conforms to
   the provisions of this article, and the Department shall accept the
   same upon condition that said insurance company complies with the
   following provisions with respect to the policy so certified:
   
   a. the insurance company shall execute a power of attorney authorizing
   the Department to accept service on its behalf or notice of process in
   any action arising out of a motor vehicle accident in this state, and
   
   b. the insurance company shall agree in writing that such policies
   shall be deemed to conform with the laws of this state relating to the
   terms of motor vehicle liability policies issued in this state.
   
   3. The provisions of this subsection shall apply to nonresident owners
   and operators of vehicles that are not registered in this state only
   if the state in which the vehicle is registered requires compulsory
   liability insurance. In such cases, compliance with the requirements
   of the law of the state of registration shall be deemed compliance
   with the laws of this state.