C.R.S. Section 42-7-421
When director may release proof of financial responsibility


(1)

The director, upon request, shall cancel any bond or return any certificate of insurance, or the director shall direct and the state treasurer shall return to the person entitled thereto any money or securities deposited pursuant to this article as proof of financial responsibility, or waive the requirement of filing proof of financial responsibility in any of the following events:

(a)

At any time after three years from the date such proof was required, or after any other period during which proof was required pursuant to section 42-7-408 (1) in the case of certain violations for an alcohol-related driving offense, if, during such three-year or other period preceding the request, the person furnishing such proof has not been convicted of any offense referred to in section 42-7-406; or

(b)

In the event of the death of the person on whose behalf such proof was filed, or the permanent incapacity of such person to operate a motor vehicle; or

(c)

In the event the person who has given proof of financial responsibility surrenders the person’s license to the director, but the director shall not release such proof in the event any action for damages upon a liability referred to in this article is then pending or any judgment upon any such liability is then outstanding and unsatisfied or in the event the director has received notice that such person has within the period of three months immediately preceding been involved as a driver in any motor vehicle accident. An affidavit of the applicant of the nonexistence of such facts shall be sufficient evidence thereof in the absence of evidence to the contrary in the records of the department.

(2)

Whenever any person to whom proof has been surrendered, as provided in paragraph (c) of subsection (1) of this section, applies for a license within a period of three years from the date proof of financial responsibility was originally required, or within any other period during which proof of financial responsibility was required pursuant to section 42-7-408 (1), any such application shall be refused unless the applicant establishes such proof for the remainder of such period.

Source: Section 42-7-421 — When director may release proof of financial responsibility, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-42.­pdf (accessed Oct. 20, 2023).

42–7–101
Short title
42–7–102
Legislative declaration
42–7–103
Definitions
42–7–201
Director to administer article
42–7–301
Security and proof of financial responsibility for the future required under certain circumstances
42–7–301.5
Proof of financial responsibility
42–7–302
Exemptions from requirement of filing security and proof of financial responsibility for the future
42–7–303
Duration of suspension
42–7–304
Custody and disposition of security
42–7–401
Proof required on judgments
42–7–402
Suspension, duration, bankruptcy
42–7–403
Sufficiency of payments
42–7–404
Payment of judgment in installments
42–7–405
Suspension upon second judgment
42–7–406
Proof required under certain conditions
42–7–407
Duty of courts to report
42–7–408
Proof of financial responsibility - methods of giving proof - duration - exception
42–7–409
Proof for member of family or chauffeur
42–7–410
Certificate for insurance policy
42–7–411
Restrictions in certain type of policy
42–7–412
Certificate furnished by nonresident
42–7–413
Motor vehicle liability policy
42–7–414
Requirements to be complied with
42–7–415
When insurance carrier to issue certificate
42–7–416
Notice required upon cancellation
42–7–417
Article not to affect other policies
42–7–418
Money - securities for financial responsibility
42–7–419
Substitution of proof
42–7–420
Failure of proof - other proof
42–7–421
When director may release proof of financial responsibility
42–7–422
No proof when proof required
42–7–501
Self-insurers
42–7–502
Action against nonresident - reciprocity with other states
42–7–503
Director to furnish operating record
42–7–504
Matters not to be evidence in litigation
42–7–505
Forging ability to respond in damages
42–7–505.5
Motor carrier indemnity agreements void - choice of law for transportation contracts
42–7–506
Surrender of license
42–7–507
Penalty
42–7–508
No repeal of motor vehicle laws
42–7–509
Article does not prevent other process
42–7–510
Insurance or bond required
42–7–601
Short title
42–7–602
Uninsured motorist identification database program - creation
42–7–603
Definitions
42–7–604
Motorist insurance identification database program - creation - administration - selection of designated agent - legislative declaration
42–7–606
Disclosure of insurance information - penalty
42–7–607
Part 6 not to supersede other provisions
42–7–609
Report
Green check means up to date. Up to date

Current through Fall 2024

§ 42-7-421’s source at colorado​.gov