{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/46.2-426.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/46.2-426.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/46.2-426.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/46.2-426.html"}],"law_id":59822,"edition_id":1,"section_id":59822,"structure_id":13591,"section_number":"46.2-426","catch_line":"Custody and application of cash or securities deposited; limitation of actions; assignment","history":"Code 1950, \u00a7 46-441; 1958, c. 541, \u00a7 46.1-454; 1989, c. 727.","full_text":"Cash or securities furnished in compliance with the requirements of this chapter shall be placed by the Commissioner in the custody of the State Treasurer and shall be applicable only to the payment of any judgment against the depositor for damages arising out of the accident in question in an action at law in a court in the Commonwealth begun not later than one year after the date of the accident. The cash or securities may be assigned by the depositor for the benefit of the person or persons damaged or injured in the accident as the result of which the cash or securities were filed or deposited without the damaged or injured person being required to institute legal proceedings. The Commissioner shall accept the assignment if, in his opinion, the rights of any other person or persons shall not be prejudiced thereby.","order_by":null,"text":{"0":{"id":219089,"text":"Cash or securities furnished in compliance with the requirements of this chapter shall be placed by the Commissioner in the custody of the State Treasurer and shall be applicable only to the payment of any judgment against the depositor for damages arising out of the accident in question in an action at law in a court in the Commonwealth begun not later than one year after the date of the accident. The cash or securities may be assigned by the depositor for the benefit of the person or persons damaged or injured in the accident as the result of which the cash or securities were filed or deposited without the damaged or injured person being required to institute legal proceedings. The Commissioner shall accept the assignment if, in his opinion, the rights of any other person or persons shall not be prejudiced thereby.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13591,"edition_id":1,"name":"Suspension of Licenses for Unsatisfied Judgments and After Certain Accidents","identifier":"13","label":"article","depth":4,"order_by":1,"parent_id":12772,"metadata":{},"date_created":"2026-06-26 03:45:20","date_modified":"2026-06-26 03:45:20","permalink":{"id":225927,"object_type":"structure","relational_id":13591,"identifier":"13","token":"46.2\/II\/3\/13","url":"\/46.2\/II\/3\/13\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12772,"edition_id":1,"name":"Licensure of Drivers","identifier":"3","label":"chapter","depth":3,"order_by":1,"parent_id":12771,"metadata":{},"date_created":"2026-06-26 03:43:52","date_modified":"2026-06-26 03:43:52","permalink":{"id":225629,"object_type":"structure","relational_id":12772,"identifier":"3","token":"46.2\/II\/3","url":"\/46.2\/II\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12771,"edition_id":1,"name":"Titling, Registration and Licensure","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12770,"metadata":{},"date_created":"2026-06-26 03:43:52","date_modified":"2026-06-26 03:43:52","permalink":{"id":225627,"object_type":"structure","relational_id":12771,"identifier":"II","token":"46.2\/II","url":"\/46.2\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12770,"edition_id":1,"name":"Motor Vehicles","identifier":"46.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:52","date_modified":"2026-06-26 03:43:52","permalink":{"id":225289,"object_type":"structure","relational_id":12770,"identifier":"46.2","token":"46.2","url":"\/46.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":57149,"structure_id":13591,"section_number":"46.2-417","catch_line":"Suspension for failure to satisfy motor vehicle accident judgment; exceptions; insurance in liquidated company; insurer obligated to pay judgment","url":"\/46.2-417\/","token":"46.2\/II\/3\/13\/46.2-417","metadata":false},{"id":74796,"structure_id":13591,"section_number":"46.2-418","catch_line":"Nonpayment of judgments of Virginia and other states","url":"\/46.2-418\/","token":"46.2\/II\/3\/13\/46.2-418","metadata":false},{"id":72815,"structure_id":13591,"section_number":"46.2-419","catch_line":"When judgment satisfied","url":"\/46.2-419\/","token":"46.2\/II\/3\/13\/46.2-419","metadata":false},{"id":56939,"structure_id":13591,"section_number":"46.2-420","catch_line":"Order for payment of judgment in installments","url":"\/46.2-420\/","token":"46.2\/II\/3\/13\/46.2-420","metadata":false},{"id":80491,"structure_id":13591,"section_number":"46.2-421","catch_line":"Effect of order for such payment and proof of financial responsibility","url":"\/46.2-421\/","token":"46.2\/II\/3\/13\/46.2-421","metadata":false},{"id":54558,"structure_id":13591,"section_number":"46.2-422","catch_line":"Suspension on failure to pay installments","url":"\/46.2-422\/","token":"46.2\/II\/3\/13\/46.2-422","metadata":false},{"id":66544,"structure_id":13591,"section_number":"46.2-423","catch_line":"Creditor's consent to license notwithstanding default in payment","url":"\/46.2-423\/","token":"46.2\/II\/3\/13\/46.2-423","metadata":false},{"id":79286,"structure_id":13591,"section_number":"46.2-424","catch_line":"Duty of insurance carrier after notice of accident; report of omissions by insurers to State Corporation Commission; investigation and assessment for omissions","url":"\/46.2-424\/","token":"46.2\/II\/3\/13\/46.2-424","metadata":false},{"id":56391,"structure_id":13591,"section_number":"46.2-425","catch_line":"Driver or owner having no license issued by Department","url":"\/46.2-425\/","token":"46.2\/II\/3\/13\/46.2-425","metadata":false},{"id":59822,"structure_id":13591,"section_number":"46.2-426","catch_line":"Custody and application of cash or securities deposited; limitation of actions; assignment","url":"\/46.2-426\/","token":"46.2\/II\/3\/13\/46.2-426","metadata":false},{"id":63779,"structure_id":13591,"section_number":"46.2-427","catch_line":"When suspensions to remain effective; relief from furnishing proof of financial responsibility; prohibition against registration in name of another person","url":"\/46.2-427\/","token":"46.2\/II\/3\/13\/46.2-427","metadata":false},{"id":82008,"structure_id":13591,"section_number":"46.2-428","catch_line":"Commonwealth responsible for deposits","url":"\/46.2-428\/","token":"46.2\/II\/3\/13\/46.2-428","metadata":false},{"id":86969,"structure_id":13591,"section_number":"46.2-429","catch_line":"Release of deposits only upon consent of Commissioner","url":"\/46.2-429\/","token":"46.2\/II\/3\/13\/46.2-429","metadata":false}],"previous_section":{"id":56391,"structure_id":13591,"section_number":"46.2-425","catch_line":"Driver or owner having no license issued by Department","url":"\/46.2-425\/","token":"46.2\/II\/3\/13\/46.2-425","metadata":false},"next_section":{"id":63779,"structure_id":13591,"section_number":"46.2-427","catch_line":"When suspensions to remain effective; relief from furnishing proof of financial responsibility; prohibition against registration in name of another person","url":"\/46.2-427\/","token":"46.2\/II\/3\/13\/46.2-427","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/46.2-426\/","history_text":"<p>The record of this law\u2019s original creation isn\u2019t available online. It has been modified 2 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1958, chapter 541; in 1989, chapter 727.<\/p>","references":false,"refers_to":false,"permalink":{"id":225965,"object_type":"law","relational_id":59822,"identifier":"46.2-426","token":"46.2\/II\/3\/13\/46.2-426","url":"\/46.2-426\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/46.2-426\/","token":"46.2\/II\/3\/13\/46.2-426","dublin_core":{"Title":"Custody and application of cash or securities deposited; limitation of actions; assignment","Type":"Text","Format":"text\/html","Identifier":"\u00a7 46.2-426","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Cash or securities furnished in compliance with the requirements of this chapter shall be placed by the <span class=\"dictionary\">Commissioner<\/span> in the <span class=\"dictionary\">custody<\/span> of the State Treasurer and shall be applicable only to the payment of any <span class=\"dictionary\">judgment<\/span> against the depositor for <span class=\"dictionary\">damages<\/span> arising out of the accident in question in an action at <span class=\"dictionary\">law<\/span> in a <span class=\"dictionary\">court<\/span> in the Commonwealth begun not later than one year after the date of the accident. The cash or securities may be assigned by the depositor for the benefit of the person or persons damaged or injured in the accident as the result of which the cash or securities were filed or deposited without the damaged or injured person being required to institute legal proceedings. The <span class=\"dictionary\">Commissioner<\/span> shall accept the assignment if, in his <span class=\"dictionary\">opinion<\/span>, the rights of any other person or persons shall not be prejudiced thereby.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nCUSTODY AND APPLICATION OF CASH OR SECURITIES DEPOSITED; LIMITATION OF ACTIONS;\nASSIGNMENT (\u00a7 46.2-426)\n\nCash or securities furnished in compliance with the requirements of this chapter\nshall be placed by the Commissioner in the custody of the State Treasurer and\nshall be applicable only to the payment of any judgment against the depositor\nfor damages arising out of the accident in question in an action at law in a\ncourt in the Commonwealth begun not later than one year after the date of the\naccident. The cash or securities may be assigned by the depositor for the\nbenefit of the person or persons damaged or injured in the accident as the\nresult of which the cash or securities were filed or deposited without the\ndamaged or injured person being required to institute legal proceedings. The\nCommissioner shall accept the assignment if, in his opinion, the rights of any\nother person or persons shall not be prejudiced thereby.\n\nHISTORY: Code 1950, \u00a7 46-441; 1958, c. 541, \u00a7 46.1-454; 1989, c. 727.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}