31-9-413. Cancellation or return; reestablishment.
(a) Proof of financial responsibility is not required to be maintained if:
(i) Repealed by Laws 1989, ch. 173, §§ 1, 2.
(ii) The person on whose behalf proof was filed dies or is unable to drive a motor vehicle due to permanent incapacity; or
(iii) The person who has given proof surrenders his license and registration to the division.
(b) The division shall not consent to the cancellation of any bond or the return of any money or securities if any action for damages upon a liability covered by the proof is then pending or any judgment upon any liability is then unsatisfied, or if the person who has filed bond or deposited money or securities has, within one (1) year immediately preceding the request, been involved as an operator or owner in any motor vehicle accident resulting in injury or damage to the person or property of others. An affidavit of the applicant as to the nonexistence of such facts, or that he has been released from all of his liability, or has been finally adjudicated not to be liable, for the injury or damage, is sufficient evidence thereof in the absence of evidence to the contrary in the records of the division.
(c) Whenever any person whose proof has been cancelled or returned under paragraph (a)(iii) of this section applies for a license or registration within a period of three (3) years from the date proof was originally required, the application shall be refused unless the applicant shall reestablish proof for the remainder of the three (3) year period.