Okla. Stat. tit. 47, § 47-7-330
This is the official text of Okla. Stat. tit. 47, § 47-7-330, 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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Cash or certificate of deposit as proof
Official statutory text
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 at least Seventy-five
Thousand Dollars ($75,000.00) in cash, or a certificate of deposit
issued by a financial institution located in Oklahoma in an amount
of at least Seventy-five Thousand Dollars ($75,000.00). 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 deposit and issue a
certificate therefor and the Department shall not accept the
certificate unless accompanied by evidence that there are no
unsatisfied judgments of any character against the depositor in the
county where the depositor resides.
certificate of the Department of Public Safety that the person named
therein has deposited with the Department at least Seventy-five
Thousand Dollars ($75,000.00) in cash, or a certificate of deposit
issued by a financial institution located in Oklahoma in an amount
of at least Seventy-five Thousand Dollars ($75,000.00). 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 deposit and issue a
certificate therefor and the Department shall not accept the
certificate unless accompanied by evidence that there are no
unsatisfied judgments of any character against the depositor in the
county where the depositor resides.
Status: in_force · Read it on the official government site
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