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2021 Ohio Revised Code
Title 45 | Motor Vehicles-Aeronautics-Watercraft
Chapter 4509 | Financial Responsibility
Section 4509.59 | Proof of Financial Responsibility Evidenced by Bond.
Universal Citation: Ohio Rev Code § 4509.59 (2021)
Effective: October 1, 1953
Latest Legislation: House Bill 1 - 100th General Assembly
Proof of financial responsibility may be evidenced by the bond of a surety company duly authorized to transact business within this state, or a bond with at least two individual sureties each owning real estate within this state, and together having equities equal in value to at least twice the amount of such bond; the real estate shall be scheduled in the bond approved by a judge of a court of record and the bond shall be conditioned for payment of the amount specified in section 4509.62 of the Revised Code. Such bond shall be filed with the registrar and shall not be cancelable except after ten days written notice to the registrar of motor vehicles.
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