Ohio Admin. Code 4501:1-2-04 - Deposits of money

(A) Proof of financial responsibility may be evidenced by the certificate of the treasurer registrar of motor vehiclesstate that the person named therein has deposited with the treasurer registrar thirty thousand dollars in money or bonds of the United States, of this state, or of a political subdivision of this state at their par or face value. The treasurer of state shall registrar will not accept any such deposit and issue a certificate therefor and the registrar of motor vehicles shall not accept such certificate unless it is accompanied by evidence that there are no unsatisfied judgments against the depositor in the county where the depositor resides.

(B) The application for and the issuance of a certificate under this rule shall will be as follows:

(1) The applicant shall complete completes the application prescribed by the registrar of motor vehicles, "Application for Certificate Deposit of $30,000 in Money or Government Bonds" form "BMV 3146" (5/18) "Application for Certificate Deposit of $30,000 in Money" form "BMV 3146" (9/23), available via the Ohio bureau of motor vehicles' website at http://www.bmv.ohio.gov/bmv_forms.stmhttps://www.bmv.ohio.gov/doc-forms.aspx, and sign the application in the presence of a notary public;

(2) The applicant delivers or otherwise transmit at applicant's own risk thirty thousand dollars in the form of a money order or cashier's check payable to "Ohio Treasurer of State," along with the application, to the bureau of motor vehicles;

(3) Upon receipt of the application and the thirty thousand dollars in money or bonds, the registrar shall either approve approves or disapprove disapproves the application;

(4) If approved, the registrar shall transmit to the treasurer the money or bonds for deposit. No interest shall accrue to the credit of the applicant upon any money deposited by the treasurer pursuant to this rule;

(5)(4) If approved, by the registrartreasurer of state, the treasurer shall deposit deposits the money or bonds and shall execute executes a "Receipt and Certificate of Financial Responsibility" "Certificate of Financial Responsibility." No interest accrues to the credit of the applicant upon any money depoisted by and return it to the registrar pursuant to this rule;

(6)(5) The registrar shall will transmit the receipt and certificate of financial responsibility to the applicant;

(7)(6) The proof of financial responsibility shall become becomes effective upon the registrar's receipt issuance of the certificate from the treasurer.

Notes

Ohio Admin. Code 4501:1-2-04

Effective: 7/1/2024
Five Year Review (FYR) Dates: 4/12/2024 and 06/01/2029
Promulgated Under: 119.03
Statutory Authority: 4501.02, 4509.101
Rule Amplifies: 4509.62, 4509.45
Prior Effective Dates: 04/20/1995, 03/22/2010, 03/31/2015, 03/01/2020