CHAPTER 501

An Act to amend and reenact §§ 46-431, 46-487, 46-455, 46-460, 46-474
and 46-492, as amended, of the Code of Virginia, all being part of the
Motor Vehicle Safety Responsibility Act, in order to increase certain
minimum provisions of the security for damages and proof of financial
responsibility required after certain accidents. CH 638)

Approved March 29, 1958

Be it enacted by the General Assembly of Virginia:

1. That §§ 46-431, 46-487, 46-455, 46-460, 46-474 and 46-492, as amend-
ed, of the Code of Virginia, be amended and reenacted as follows:

§ 46-481. Every judgment herein referred to shall for the purpose
of this chapter only be deemed satisfied:

(1) When paid in full or when * fifteen thousand dollars has been
credited upon any judgment or judgments rendered in excess of that
amount because of bodily injury to or death of one person as the result
of any one accident;

(2) When, subject to the limit of * fifteen thousand dollars because
of bodily injury to or death of one person, the judgment has been paid in
full or when the sum of * thirty thousand dollars has been credited upon
any judgment or judgments rendered in excess of that amount because of
bodily injury to or death of two or more persons as the result of any one
accident; or

(3) When the judgment has been paid in full or when * five thousand
dollars has been credited upon any judgment or judgments rendered in
excess of that amount because of injury to or destruction of property of
others as a result of any one accident. _.

Payments made in settlement of any claims because of bodily injury,
death or property damage arising from a motor vehicle accident shall be
credited in reduction of the amount provided for in this section.

§ 46-487. The provisions of the preceding section shall not apply to:

(1) An owner, operator or chauffeur if the owner had in effect, at the
time of the accident, with respect to the motor vehicle involved, a stand-
ard provisions automobile liability policy in form approved by the State
Corporation Commission and issued by an insurance carrier authorized to
do business in this State or, if the motor vehicle was not registered in this
State or was a motor vehicle which was registered elsewhere than in this
State at the effective date of the policy, or at its most recent renewal, an
automobile liability policy acceptable to that Commission as substantially
the equivalent of a standard provisions automobile liability policy ;

(2) An operator or chauffeur if not the owner of the motor vehicle,
if there was in effect at the time of the accident such a policy with respect
to his operation of motor vehicles * not owned by him or, if such motor
vehicle was a private passenger motor vehicle, with respect to his operation
of a private passenger motor vehicle not owned by him; or

(3) An owner, operator or chauffeur if his liability for damages re-
sulting from the accident is, in the judgment of the Commissioner, cov-
ered by any other form of liability insurance policy issued by an insurance
carrier authorized to do business in this State or by a bond; provided,
that every such policy or bond mentioned herein is subject, if the accident
has resulted in bodily injury or death, to a limit, exclusive of interest and
costs, of * fifteen thousand dollars because of bodily injury to or death of
one person in any one accident and, subject to that limit for one person, to
a limit of * thirty thousand dollars because of bodily injury to or death
of two or more persons in any one accident and, if the accident has re-
sulted in injury to or destruction of property, to a limit of * five thousand
anlar pSnUne of injury to or destruction of property of others in any one
accident.

§ 46-455. Proof of financial responsibility means proof of ability to
respond in damages for liability thereafter incurred arising out of the
ownership, maintenance, use or operation of a motor vehicle, in the
amount of * fifteen thousand dollars because of bodily injury to or death
of any one person, and subject thereto for one person in the amount of *
thirty thousand dollars because of bodily injury to or death of two or
more persons in any one accident, and in the amount of * five thousand dol-
lars because of injury to or destruction of property in any one accident.
Proof in these amounts shall be furnished for each motor vehicle register-
ed by the person.

§ 46-460. A nonresident owner of a foreign vehicle may give proof
of financial responsibility by filing with the Commissioner a written certi-
ficate or certificates of an insurance carrier not authorized to transact
business in this State but authorized to transact business in any other
state, the District of Columbia, any territory, district or possession of the
United States and under its exclusive control, the Dominion of Canada,
Newfoundland, or any province or territorial subdivision of either, in
which each motor vehicle described in the certificate is registered or, if the
nonresident does not own a motor vehicle, then in the like jurisdiction in
which the insured resides and otherwise conforming to the provisions of
this chapter. The Commissioner shall accept the same if the insurance
carrier, in addition to having complied with all other provisions of this
chapter as requisite, shall:

(1) Execute a power of attorney authorizing the Commissioner to
accept service on its behalf of notice or process in any action arising out
of a motor vehicle accident in this State;

(2) Duly adopt a resolution, which shall be binding upon it, declaring
that its policies are to be deemed to be varied to comply with the law of
this State and the terms of this chapter relating to the terms of motor
vehicle liability policies issued herein;

(3) Agree to accept as final and binding the judgment of any court
of competent jurisdiction in this State from which judgment no appeal
is or can be taken, duly rendered in any action arising out of a motor
vehicle accident;

(4) Deposit with the State Treasurer cash or securities such as are
mentioned in § 46-474 or the surety bond of a company authorized to do
business in Virginia equal in value to * thirty-five thousand dollars for each
insurance policy filed as proof of fiinancial responsibility.

§ 46-474. A person may give proof of financial responsibility by de-
livering to the Commissioner * thirty-five thousand dollars in cash or in
securities such as fiduciaries may invest in according to the provisions of
8§ 26-40 to 26-45.

§ 46-492. Every owner’s policy shall:

(1) Designate by explicit description or by appropriate reference, all
motor vehicles with respect to which coverage is intended to be granted.

(2) Insure as insured the person named and any other person using
or responsible for the use of the motor vehicle or motor vehicles with the
permission of the named insured,

(3) Insure the insured or other person against loss from any liability
imposed by law for damages, including damages for care and loss of serv-
ices, because of bodily injury to or death of any person and injury to or
destruction of property caused by accident and arising out of the owner-
ship, use or operation of such motor vehicle or motor vehicles within this
State, any other state of the United States, the United States, any terri-
tory, district or possession of the United States and under its exclusive
control, the District of Columbia, the Dominion of Canada, or Newfound-
land, or any province or territorial subdivision of either, subject to a
limit exclusive of interests and costs, with respect to each motor vehicle,
of * fifteen thousand dollars because of bodily injury to or death of
one person in any one accident and, subject to the limit for one person, to
a limit of * thirty thousand dollars because of bodily injury to or death of
two or more persons in any one accident, and to a limit of * five thousand
dollars because of injury to or destruction of property of others in any one
accident.

2. The provisions of this Act shall take effect on July one, nineteen
hundred fifty-nine.