Okla. Stat. tit. 47, § 47-7-217
This is the official text of Okla. Stat. tit. 47, § 47-7-217, part of Oklahoma’s Stat. tit. 47, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 47,." Browse the sections below, each linked to its official government source.
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Disposition of security
Official statutory text
Oklahoma Statutes - Title 47. Motor Vehicles Page 415
Such security shall be applicable and available only
1. For the payment of any settlement agreement covering any
claim arising out of the accident upon instruction of the person who
made the deposit, or
2. For the payment of a judgment or judgments, rendered against
the person required to make the deposit, for damages arising out of
the accident in an action at law begun not later than one (1) year
after the deposit of such security, or within one (1) year after the
date of deposit of any security following failure to make payments
under an agreement to pay.
Such security shall be applicable and available only
1. For the payment of any settlement agreement covering any
claim arising out of the accident upon instruction of the person who
made the deposit, or
2. For the payment of a judgment or judgments, rendered against
the person required to make the deposit, for damages arising out of
the accident in an action at law begun not later than one (1) year
after the deposit of such security, or within one (1) year after the
date of deposit of any security following failure to make payments
under an agreement to pay.
Status: in_force · Read it on the official government site
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