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
Note
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