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Florida Statute 324.061 - Full Text and Legal Analysis
Florida Statute 324.061 | Lawyer Caselaw & Research
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The 2025 Florida Statutes

Title XXIII
MOTOR VEHICLES
Chapter 324
FINANCIAL RESPONSIBILITY
View Entire Chapter
324.061 Security deposited with Department of Highway Safety and Motor Vehicles; release.
(1) Security deposited pursuant to the provisions of s. 324.051(2)(a)4. with respect to claims for injuries to persons or properties resulting from a crash occurring prior to such deposit shall be in the form and amount determined by the department which, in its judgment, will be sufficient to compensate for all injuries arising out of such crash, but in no case shall the amount exceed the limits as specified in s. 324.021(7).
(2) Such security shall be deposited with the department and shall not be released except under one of the following conditions:
(a) A duly attested written statement of satisfaction by all parties shown to be injured in such crash has been received by the department.
(b) In the event the depositor has been finally adjudicated by a court of competent jurisdiction not to be liable; or all judgments of liability against the depositor have been satisfied.
(c) One year shall have elapsed after deposit and during such period the department has not been duly notified of any court action brought for damages.
(d) Upon receipt of an order from a court ordering that such deposit be paid to satisfy a recorded judgment, in whole or in part, resulting from a crash. If the department does not have sufficient funds on deposit to satisfy such judgment it shall forthwith call upon the judgment debtor for the balance, subject to the limits specified in s. 324.021(7). Upon failure of the judgment debtor to make the necessary deposit or to satisfy the judgment in full, the department shall revoke the driving privilege and all registrations of such judgment debtor within 10 days subsequent to notification to the judgment debtor by the department.
(e) In any case in which securities deposited under this section have remained unclaimed for 5 years or more such deposit shall be transferred by the department to the State School Fund, and all interest and income that may accrue from said deposits after the aforesaid period of time, shall belong to said fund.
(3) The department shall invest security deposits in its custody received under this section in excess of current needs in interest-bearing accounts. The interest earned from such investments shall be deposited in a department trust fund, and any security deposits remaining unclaimed after 5 years shall be transferred to the State School Fund as provided in paragraph (2)(e) above.
History.s. 1, ch. 29963, 1955; s. 3, ch. 57-147; ss. 13, 35, ch. 69-106; s. 3, ch. 71-59; s. 3, ch. 77-118; s. 8, ch. 77-468; s. 69, ch. 79-164; s. 34, ch. 95-143; s. 304, ch. 99-248.
Note.Former s. 324.041.

F.S. 324.061 on Google Scholar

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Amendments to 324.061


Annotations, Discussions, Cases:

Cases Citing Statute 324.061

Total Results: 3  |  Sort by: Relevance  |  Newest First

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Larson v. Warren, 132 So. 2d 177 (Fla. 1961).

Cited 14 times | Published | Supreme Court of Florida

...clerk. *179 Larson vs. Williams October 3, 1960, Williams filed her complaint in the Circuit Court of Lake County praying that Larson be directed to return to her the amount of $200, representing her security deposit made to him [Larson] pursuant to § 324.061, Florida Statutes, F.S.A. The complaint alleged that § 324.061 et seq., Florida Statutes, F.S.A....
...He will hereinafter be referred to as "commissioner." The commissioner may take such steps as the law requires to keep the financial responsibility of the owner of an automobile current and may exact every showing within reason to do so. See §§ 324.021, 324.031, 324.042, 324.051 and 324.061, Florida Statutes, F.S.A....
...the act should be adjudicated. It appears that appellees here were involved in automobile accidents; they could not secure release from liability of other parties involved in the accident and appellee Warren failed to post a cash bond as provided by § 324.061, Florida Statutes, F.S.A., and as required by the commissioner, account of which the commissioner threatened to revoke his driver's license and registration certificate. Appellee Williams deposited the required bond of two hundred dollars ($200.00) and sought in her suit to have it refunded. Appellees' grievance is that § 324.061, Florida Statutes, F.S.A., does not provide for a judicial hearing before revocation of their drivers' licenses and registration certificates, nor for a judicial appeal after such revocation....
...t is done after the commissioner has a full report of the accident from the department of public safety or secures such a report from reliable sources. See § 324.051, Florida Statutes, F.S.A., containing numerous *181 exemptions or exceptions. Then § 324.061, Florida Statutes, F.S.A., provides how amends may be made in the way of security deposit with the commissioner and § 324.071, Florida Statutes, F.S.A., provides the manner in which one's license and registration may be reinstated when suspended either under § 324.051 or § 324.072, Florida Statutes, F.S.A....
...nd the funds in the hands of appellant were accumulated by the unconstitutional requirement of posting a bond by her and others in like situation. The chancellor allowed attorneys' fees from the security deposits accumulated by defendant pursuant to § 324.061, Florida Statutes, F.S.A....
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Williams v. Newton, 236 So. 2d 98 (Fla. 1970).

Cited 9 times | Published | Supreme Court of Florida

...Such operator or owner had secured a duly acknowledged written agreement providing for release from liability by all parties injured as the result of said accident and had complied with one of the provisions of § 324.031, or "6. Such operator or owner has deposited with the state treasurer security to conform with § 324.061 and has complied with one of the provisions of § 324.031." Under Florida Statute § 324.051(2) (b), F.S.A., the above-quoted section only applies to uninsured operators or owners....
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McKinney v. O'Malley, 379 F. Supp. 135 (M.D. Fla. 1974).

Published | District Court, M.D. Florida | 1974 U.S. Dist. LEXIS 7272

compensate for the injuries as provided in Section 324.061.5 Unable to obtain releases or to post the

This Florida statute resource is curated by Graham W. Syfert, Esq., a Jacksonville, Florida personal injury and workers' compensation attorney. Attorney Syfert regularly works with Chapter 324 in the context of auto insurance and financial responsibility and represents clients throughout Northeast Florida. For legal consultation, call 904-383-7448.