Texas § TN.601.153 - DEPOSIT OF SECURITY

§ TN.601.153. DEPOSIT OF SECURITY

DEPOSIT OF SECURITY; EVIDENCE OF FINANCIAL RESPONSIBILITY. (a) The department may not suspend a driver's license, vehicle registration, or nonresident's privilege under this subchapter if the owner or operator: (1) deposits with the department security in an amount determined to be sufficient under Section 601.154 or 601.157 as appropriate; and (2) files evidence of financial responsibility as required by this chapter. (b) If the owner or operator chooses to establish financial responsibility under Subsection (a)(2) by filing evidence of motor vehicle liability insurance, the owner or operator must file a certificate of insurance for a policy that has a policy period of at least six months and for which the premium for the entire policy period is paid in full. (c) Notwithstanding Section 601.085 , coverage for a motor vehicle under a motor vehicle liability policy for which a person files with the department a certificate of insurance under Subsection (b) may not be canceled unless: (1) the person no longer owns the motor vehicle; (2) the person dies; (3) the person has a permanent incapacity that renders the person unable to drive the motor vehicle; or (4) the person surrenders to the department the person's driver's license and the vehicle registration for the motor vehicle. Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995. Amended by Acts 1997, 75th Leg., ch. 178, Sec. 2, eff. Sept. 1, 1997.