Wisconsin Administrative Code
Department of Transportation
Chapter Trans 100 - Accident Reporting And Safety Responsibility
Section Trans 100.08 - Security deposit
Current through February 26, 2024
(1) Acceptable forms of security required under ss. 344.14 and 344.17, Stats., are any of the following:
Note: Forms MV 3016-Security Deposit Receipt, MV 3043-Bond under Chapter 344 Stats., and MV 3385-Informational Letter to Injured Parties.
(2) A person other than the uninsured owner or operator may deposit security if the person specifies in writing on whose behalf the deposit is made and to whom the deposit should be returned.
(3) Security deposited with the department shall be held in trust for the benefit of any claimant involved in the accident. The department shall remit to the depositor any balance remaining after the termination of the security filing period and payments to claimants.
(4) No interest or dividends shall be paid to a depositor.
(5) If the owner and operator are separate persons, the deposit may be made by one of them, or they may cooperate in depositing the security. The security shall be applied to the payment of judgments or assignments for damages arising out of the accident rendered against either the operator or owner regardless of who made the deposit.
(6) If notice has been filed with the secretary by any claimant that a court action has been commenced by any party in interest, the security deposit shall be retained until one of the following conditions is met:
(7) A security deposit may be returned only after one of the following conditions is met:
(8) Final disposition of security deposits shall be made in accordance with s. 344.20, Stats. Unless otherwise specified in writing by all depositors, any security deposit remaining may be returned to any depositor by check made jointly payable to all depositors.