Missouri § 303.240 - Cash deposit as proof of responsibility.
Full text of Missouri Revised Statutes of Missouri § 303.240 — Cash deposit as proof of responsibility., with citation guidance and answers to common questions.
§ 303.240. Cash deposit as proof of responsibility.
1. Proof of financial responsibility may be evidenced by the certificate of the state treasurer that the person named therein has deposited with him seventy-five thousand dollars in cash, or securities such as may legally be purchased by savings banks or for trust funds of a market value of seventy-five thousand dollars. The state treasurer shall not accept any such deposit and issue a certificate therefor and the director 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.
2. Such deposit shall be held by the state treasurer to satisfy, in accordance with the provisions of this chapter, 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.
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(L. 1953 p. 569 § 303.250, A.L. 1965 p. 481, A.L. 1981 S.B. 201, A.L. 2018 S.B. 708)
Effective 7-01-19
---- end of effective 01 Jul 2019 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 303.240
What does Revised Statutes of Missouri § 303.240 cover?
Section 303.240 ("Cash deposit as proof of responsibility.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 303.240?
A common citation format is "Revised Statutes of Missouri § 303.240" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 303.240 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.