# N.Y. VAT Law § 315: Release of financial security bonds or deposits

> New York · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_NY_AVAT_T3_A6_S315

## Section

- **Citation:** N.Y. VAT Law § 315
- **Heading:** Release of financial security bonds or deposits
- **Jurisdiction:** New York
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** New York Code / Act VAT / Title 3 / Article 6 / Section 315

## Text

§ 315. Release of financial security bonds or deposits. 1. The\ncommissioner, upon the surrender of the registration and number plates\nfor a motor vehicle for which a financial security bond or deposit was\naccepted by the commissioner, shall permit the cancellation of any such\nbond or shall direct that any such deposit be returned by the\ncommissioner of taxation and finance. The commissioner shall not release\nsuch bond or deposit in the event any action for damages upon a\nliability referred to in this article is then pending or any judgment\nupon any such liability then outstanding and unsatisfied, or in the\nevent the commissioner has received notice that such person has within\nthe period of three months immediately preceding been involved as a\ndriver in any motor vehicle accident. An affidavit of the applicant of\nnon-existence of such facts shall be sufficient evidence thereof in the\nabsence of evidence to the contrary in the records of the bureau.\n 2. The commissioner, subject to such reasonable regulations as he may\nestablish shall permit the form of proof of financial security\nacceptable under this article to be substituted for another form of\nproof of financial security which may already have been accepted by the\ncommissioner as complying with the provisions of this article.\n

## Nearby sections

- [N.Y. VAT Law § 310 Short title and declaration of purpose](https://www.frixlaw.com/law-library/statutes/STATE_NY_AVAT_T3_A6_S310.md)
- [N.Y. VAT Law § 311 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_NY_AVAT_T3_A6_S311.md)
- [N.Y. VAT Law § 312 Registration of motor vehicles](https://www.frixlaw.com/law-library/statutes/STATE_NY_AVAT_T3_A6_S312.md)
- [N.Y. VAT Law § 312-A Issuance and termination of liability insurance and maintenance of records](https://www.frixlaw.com/law-library/statutes/STATE_NY_AVAT_T3_A6_S312-A.md)
- [N.Y. VAT Law § 313 Notice of termination](https://www.frixlaw.com/law-library/statutes/STATE_NY_AVAT_T3_A6_S313.md)
- [N.Y. VAT Law § 314 Acceptance of financial security deposits](https://www.frixlaw.com/law-library/statutes/STATE_NY_AVAT_T3_A6_S314.md)
- [N.Y. VAT Law § 315 Release of financial security bonds or deposits](https://www.frixlaw.com/law-library/statutes/STATE_NY_AVAT_T3_A6_S315.md)
- [N.Y. VAT Law § 316 Self-insurers](https://www.frixlaw.com/law-library/statutes/STATE_NY_AVAT_T3_A6_S316.md)
- [N.Y. VAT Law § 317 Expenses of administering article](https://www.frixlaw.com/law-library/statutes/STATE_NY_AVAT_T3_A6_S317.md)
- [N.Y. VAT Law § 318 Revocation of registrations, drivers' licenses and non-resident privileges](https://www.frixlaw.com/law-library/statutes/STATE_NY_AVAT_T3_A6_S318.md)
- [N.Y. VAT Law § 319 Penalties](https://www.frixlaw.com/law-library/statutes/STATE_NY_AVAT_T3_A6_S319.md)
- [N.Y. VAT Law § 320 Notice to other jurisdictions](https://www.frixlaw.com/law-library/statutes/STATE_NY_AVAT_T3_A6_S320.md)
- [N.Y. VAT Law § 321 Exceptions](https://www.frixlaw.com/law-library/statutes/STATE_NY_AVAT_T3_A6_S321.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_NY_AVAT_T3_A6_S315. Check the current official text before relying on it. Not legal advice.