§47-8-104.

§47-8-104.
   
   (a) Every person, firm or corporation engaged in the business of
   operating a taxicab or taxicabs within a municipality shall file with
   the governing board of the municipality in which such business is
   operated proof of financial responsibility as hereinafter defined.
   
   No governing board of a municipality shall hereafter issue any
   certificate of convenience and necessity, franchise, license permit or
   other privilege or authority to any person, firm or corporation
   authorizing such person, firm or corporation to engage in the business
   of operating a taxicab or taxicabs within the municipality unless such
   person, firm or corporation first files with the governing board proof
   of financial responsibility as hereinafter defined.
   
   Every person, firm or corporation engaging in the business of
   operating a taxicab or taxicabs without the corporate city limits of a
   municipality or municipalities shall file with the Department of
   Public Safety, Financial Responsibility Division, of the state, proof
   of financial responsibility as hereinafter defined.
   
   No person, firm or corporation shall hereafter engage in the business
   of operating a taxicab or taxicabs without the corporate city limits
   of a municipality or municipalities in the state unless such person,
   firm or corporation first files with the Department of Public Safety
   proof of financial responsibility as hereinafter defined.
   
   (b) As used in this section, proof of financial responsibility shall
   mean a certificate of any insurance carrier authorized to do business
   in the state certifying that there is in effect a policy of liability
   insurance insuring the owner and operator of the taxicab business, his
   agents and employees while in the performance of their duties against
   loss from any liability imposed by law for damages including damages
   for care and loss of services because of bodily injury to or death of
   any person and injury to or destruction of property caused by accident
   and arising out of the ownership, use or operation of such taxicab or
   taxicabs, subject to minimum limits, exclusive of interest and cost,
   with respect to each such motor vehicle as follows: Ten Thousand
   Dollars ($10,000.00) because of bodily injury to or death of one
   person in any one accident and, subject to said limit for one person,
   Twenty Thousand Dollars ($20,000.00) because of bodily injury to or
   death of two or more persons in any one accident, and Ten Thousand
   Dollars ($10,000.00) because of injury to or destruction of property
   of others in any one accident.
   
   (c) For every person, firm or corporation who engages in the taxicab
   business without the corporate limits of a municipality or
   municipalities proof of financial responsibility may be evidenced by
   the bond of an insurance carrier duly authorized to do business within
   the state, or a bond with at least two individual sureties each owning
   real estate within this state, and together having equities equal in
   value to at least twice the amount of such bond, which real estate
   shall be conditioned for payment of the amounts specified in
   subsection (b) of this section. Such bond shall be filed with the
   Department of Public Safety and shall not be cancelable except after
   ten (10) days' written notice to the Commissioner. Such bond shall
   constitute a lien in favor of the state upon the real estate so
   scheduled of any surety, which lien shall exist in favor of any holder
   of a final judgment against the person who has filed such bond, for
   damages, including damages for care and loss of services, because of
   bodily injury to or death of any person, or for 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 such bond was filed, upon the filing of
   notice to that effect by the Commissioner in the office of county
   clerk of the county where such real estate shall be located.
   
   If such a judgment rendered against the principal on such bond shall
   not be satisfied within thirty (30) days after it has become final,
   the judgment creditor may, for his own use and benefit and at his sole
   expense, bring an action or actions in the name of the state against
   the company or persons executing such bond, including an action or
   proceeding to foreclose any lien that may exist upon the real estate
   of a person who has executed such bonds.
   
   (d) 1. Proof of financial responsibility may be evidenced by the
   certificate of the Department 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
   paragraph 2 of this subsection. 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 unless accompanied by evidence that there are no
   unsatisfied judgments of any character against the depositor in the
   county where the depositor resides. The thirty-thousand-dollar deposit
   paid to the Department pursuant to this provision shall be per sole
   proprietor, firm or corporation engaged in the business of operating a
   taxicab or taxicabs.
   
   2. Such deposit shall be held by the Department to satisfy, in
   accordance with the provisions of this act, any execution on a
   judgment issued against such person making the deposit, for damages,
   including damages for care and loss of services, because of bodily
   injury to or death of any person, or for 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 such deposit was made. Money or securities so deposited
   shall not be subject to attachment or execution unless such attachment
   or execution shall arise out of a suit for damages as aforesaid.