The cash deposit provided for in Section 66-5-226 NMSA 1978 shall be held by the state treasurer to satisfy, in accordance with the provisions of the Mandatory Financial Responsibility Act, any execution on a judgment issued against the person making the deposit, for damages, including damages for care and loss of services because of bodily injury to or death of any person or for damages because of injury to or destruction of property, including the loss of use thereof, resulting from the ownership, maintenance, use or operation of a motor vehicle of a type subject to registration under the laws of New Mexico after the deposit was made. Money so deposited shall not be subject to attachment or execution unless such attachment or execution arises out of a suit for damages as provided in this section.
History: 1953 Comp., § 64-5-238, enacted by Laws 1978, ch. 35, § 314; 1978 Comp., § 66-5-238, recompiled as 1978 Comp., § 66-5-227 by Laws 1983, ch. 318, § 26.
Recompilations. — Laws 1983, ch. 318, § 19, recompiled former 66-5-227 NMSA 1978, relating to certificate of insurance as proof, as 66-5-219 NMSA 1978, effective January 1, 1984. Section 66-5-219 NMSA 1978 was subsequently repealed by Laws 1998, ch. 34, § 19, effective July 1, 1998.
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