§287-5 Security required unless evidence of insurance. If twenty days after the receipt of a report of a motor vehicle accident within this State which has resulted in bodily injury or death or damage to property of any one person in excess of $3,000, the administrator does not have on file evidence satisfactory to the administrator that the person who would otherwise be required to file security under section 287-6 has been released from liability, or has been finally adjudicated not to be liable, or has executed a duly acknowledged written agreement providing for the payment of an agreed amount in installments with respect to all claims for injuries or damages resulting from the accident, the administrator shall determine the amount of security which is sufficient in the administrator's judgment to satisfy any judgment or judgments for damages resulting from the accident as may be recovered against each driver or owner. This section shall be applicable to each driver or owner notwithstanding that the administrator determines that the amount of security required hereunder shall as to any such driver or owner be less than $3,000. [L 1949, c 393, pt of §1; am L 1951, c 183, §1; RL 1955, §160-84; HRS §287-5; am L 1970, c 164, §3; am L 1977, c 23, §3; am L 1980, c 84, pt of §1; gen ch 1985; am L 1990, c 39, §2; am L 1995, c 216, §2]
Case Notes
Purpose of statute is to protect the injured members of the public. Where motorist involved in serious accident, financial responsibility law may restrict the motorist's use of public highways. 146 F. Supp. 729 (1956).