Changes to Existing Law

Every driver or owner of a motor vehicle shall at all times maintain in force one of the following forms of financial responsibility on the motor vehicle by one of the following methods: (1) Having in force on the motor vehicle anAn owner's policy of liability insurance as provided in § 32-35-70; (2) Having in force aA bond as provided in § 32-35-83; (3) Having aA certificate of deposit of money or securities as provided in § 32-35-87, but in the amount of fifty thousand dollars; or (4) Having aA certificate of self-insurance, as provided in §§ 32-35-90 and 32-35-91, supplemented by an agreement by the self-insurer that, with respect to accidents occurring while the certificate is in force, he the self-insurer will pay the same amounts that an amount the self-insurer would have been obligated to pay under an owner's motor vehicle liability policy if it had issued such a policy to said the self-insurer. Failure to maintain financial responsibility is a Class 2 misdemeanor. A second violation of this section is a Class 1 misdemeanor. Any third or subsequent violation is a Class 6 felony. 21