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Fund 0940 – Motor Vehicle Proof of Responsibility Trust Account

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Legal Citations:

Transportation Code sec. 601.122

Origin Date: 1952

Issue Date:

Revised Date: 2018-04-19

Purpose

To record monies deposited with the state as proof of financial responsibility in lieu of purchasing liability insurance. Deposit shall be held to satisfy any execution on a judgment issued against a person making the deposit for damages resulting from the ownership, maintenance or operation of a motor vehicle. Securities are held in financial institutions outside of the state treasury. This fund is used for financial reporting purposes.

Classification	Group 08: Trust Funds [?]
Depository Interest	Credited to General Revenue Fund (0001)
Disposition of Balance	Accumulative
Appropriation Technique	Not appropriated for state expenditure.

Administering Agencies

405 – Department of Public Safety

Financial Activity

To view this fund's current revenue and expenditure activity by agency or comptroller object code, visit the following links:

Notes

USAS Values

USAS Title	MTR VEHICLE PROOF RESP TR ACCT
Consolidated Fund
State Fund Group	08 - TRUST FUNDS
USAS Status	A

Those funds created to account for assets held by the state in a trustee capacity for individuals, private organizations or other governmental entities

Accessibility Policy