N.Y. Vehicle & Traffic Law Section 349
Filing a bond as proof of financial responsibility


(a)

A person required to give proof of financial responsibility may file with the commissioner a bond meeting the requirements of this section.

(b)

Such bond shall be executed by the person giving such proof and by a surety company duly authorized to transact business in this state.

(c)

The commissioner shall not accept any such bond unless it is conditioned for payments in amounts and under the same circumstances as would be required in a motor vehicle liability policy furnished by the person giving such proof under this article.

(d)

No such bond shall be cancelled unless ten days’ prior written notice of cancellation is given the commissioner but cancellation of such bond shall not prevent recovery thereon with respect to any right or cause of action arising prior to the date of cancellation.

(e)

If a final judgment rendered against the principal on the bond filed with the commissioner as provided in this article shall not be satisfied within fifteen days after its rendition, the judgment creditor may, for his own use and benefit and at his sole expense, bring an action on said bond in the name of the state against the company or persons executing such bond.

Source: Section 349 — Filing a bond as proof of financial responsibility, https://www.­nysenate.­gov/legislation/laws/VAT/349 (updated Sep. 22, 2014; accessed Jul. 6, 2024).

330
Commissioner to administer article
331
Proof required upon certain convictions
332
Proof required in the event of certain judgments
333
Payments sufficient to satisfy requirements of this article
334
Suspension waived upon payment of judgment in installments
335
Security and proof required following accident
336
Duty of courts to report judgments
337
Suspension, duration
338
Application to non-resident, other persons
339
Owner may give proof for chauffeur or member of family
340
Surrender of license and evidences of registration
341
Amount of proof required
342
Alternate methods of giving proof
343
Proof of financial responsibility by certificate showing motor vehicle liability policy obtained
344
Certificate furnished by non-resident
345
Motor vehicle liability policy
346
Proof of financial responsibility not required after February first, nineteen hundred fifty-seven
348
Article not to affect other policies
349
Filing a bond as proof of financial responsibility
350
Money or securities deposited as proof of financial responsibility
351
Person having given proof may substitute other proof
352
If proof fails commissioner may require other proof
353
When commissioner may release proof
354
Commissioner to furnish operating record
355
Operating without giving proof when proof required
356
Forging or without authority signing proof of financial responsibility
357
Failing to report convictions and judgments
358
Otherwise violating article
359
Definitions
360
Exceptions
361
Self-insurers
362
Article not to repeal other motor vehicle laws
363
Expenses of administering article
364
Uniformity of interpretation
365
Short title
366
Past application of article
367
This article does not prevent other process
368
Constitutionality

Accessed:
Jul. 6, 2024

Last modified:
Sep. 22, 2014

§ 349’s source at nysenate​.gov

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