Title 40, Chapter 9, Section 39
( 40-9-39)
(a) The department shall place any security deposited with it under
this chapter in the general fund of the state treasury. Such
security shall be applicable and available only: (1) For the payment of any settlement agreement covering any claim
arising out of the accident upon instruction of the person who
made the deposit; or (2) For the payment of a judgment or judgments for damages arising
out of the accident rendered against the person required to make
the deposit in an action at law begun not later than one year
after the deposit of such security or within one year after the
date of deposit of any security following failure to make payments
under an agreement to pay. (b) Upon the expiration of one year from the date of any deposit of
security, any security remaining on deposit shall be returned to the
person who made such deposit or to his legal representative, if
evidence satisfactory to the department has been filed with it: (1) That no action for damages arising out of the accident for
which deposit was made is pending against any person on whose
behalf the deposit was made; and (2) That there does not exist any unpaid judgment rendered against
any such person in any such action. In any case where the depositor shall die while security is on
deposit with the department, the commissioner is authorized to
return such security to the executor or administrator of the estate
of the deceased depositor, or, if there is no executor or
administrator and the amount on deposit is $1,000.00 or less, the
commissioner is authorized to pay over such deposit to the surviving
spouse or heirs at law of the deceased depositor. In any event, no
deposit shall be returned unless and until satisfactory evidence has
been filed by the person seeking such return, under the same
conditions as provided in paragraph (1) of this subsection for the
filing of such evidence by the depositor. (c) In any case where, after the expiration of one year from the
date of any deposit of security, the commissioner is unable to
contact the depositor by mail or receives no response from the
depositor, the commissioner shall have a notice printed in the local
newspaper in which legal notices are usually printed, in the county
of the last known address of the depositor, once each week for four
consecutive weeks. Such notice shall specify that the depositor is
eligible for the return of the security subject to the provisions of
this Code section and shall further specify that, if no response is
received from the notice within one year from the date on which the
last notice is printed, the security will be deposited in the
general fund of the state treasury. If no response to the notice is
received by the commissioner, the commissioner shall dispose of the
security as provided in this subsection. The cost of the
publication shall be deducted from the security on deposit,
regardless of whether the security is returned to the depositor or
his legal representative or deposited in the state treasury. After
such security is deposited in the general fund of the state
treasury, the director of the Office of Treasury and Fiscal Services
is authorized to return such security to the proper person as
provided in this Code section as a refund, in the event proof is
furnished to the commissioner that such person is the proper person
to whom such security should be refunded. The director of the
Office of Treasury and Fiscal Services shall make no such refund
without a certification by the commissioner of the name of the
person to whom the refund should be made. (d) Upon receiving a certificate from the clerk of any court wherein
a judgment has been obtained against the person in whose behalf the
deposit was made, which certificate shall set forth the parties to
the litigation, the time, place, and date of the accident, and the
fact that the judgment is unsatisfied of record and that the time
for appeal has expired, it shall be the duty of the commissioner to
transmit immediately to the clerk of such court any cash security
held by the department, to be applied to the satisfaction of the
judgment and any accrued interest and court costs. Any additional
security over and above the amount required to satisfy the foregoing
shall be returned by the department to the depositor. |