41-12a-405. Surety bond as proof of owner's or operator's security.
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41-12a-405. Surety bond as proof of owner's or operator's security.
(1)Proof of owner's or operator's security may be furnished by filing with the department a copy of a surety bond, certified by the surety, which conforms to Subsection 41-12a-103(9)(c) . The bond may not be canceled except after 10 days' written notice to the department.
(2)If a judgment rendered against the principal within the coverage of the bond is not satisfied within 60 days after judgment becomes final, the judgment creditor may, for his own use and benefit and at his sole expense, bring an action in the name of the department against the surety executing the bond.
Amended by Chapter 371 , 2008 General Session