# R.I. Gen. Laws § 31-47-5: Acceptance of financial security deposits

> Rhode Island · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_RI_T31_C31-47_S31-47-5

## Section

- **Citation:** R.I. Gen. Laws § 31-47-5
- **Heading:** Acceptance of financial security deposits
- **Jurisdiction:** Rhode Island
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** RI Code / Title 31 / Chapter 31-47 / Section 31-47-5

## Text

(a) All moneys or securities delivered to the assistant director as a financial security deposit shall be placed by the assistant director in the custody of the general treasurer. These assets shall be subject to execution to satisfy any judgment for damages for bodily injury or death, or injury to or destruction of property arising out of the ownership, maintenance, use, or operation of the motor vehicle with respect to which the deposit has been accepted. This deposit is subject to the same limits on amount required by this chapter for an owner€™s policy of liability insurance, and if the moneys or securities shall be otherwise subjected to attachment or any execution, the depositor shall immediately furnish additional moneys or securities not otherwise subject to attachment or execution to meet the requirements of this chapter.

(b) The assistant director shall not accept moneys or securities as a financial security deposit unless accompanied by evidence that there are no unsatisfied judgments against the person.

## Nearby sections

- [R.I. Gen. Laws § 31-47-1 § 31-47-1. Short title and declaration of purpose.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T31_C31-47_S31-47-1.md)
- [R.I. Gen. Laws § 31-47-1.1 § 31-47-1.1. Legislative findings and intent.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T31_C31-47_S31-47-1.1.md)
- [R.I. Gen. Laws § 31-47-1.2 § 31-47-1.2. Subpoena.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T31_C31-47_S31-47-1.2.md)
- [R.I. Gen. Laws § 31-47-2 § 31-47-2. Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T31_C31-47_S31-47-2.md)
- [R.I. Gen. Laws § 31-47-3 § 31-47-3. Regulations authorized €” Access to court and agency records.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T31_C31-47_S31-47-3.md)
- [R.I. Gen. Laws § 31-47-3.1 § 31-47-3.1. Registration application.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T31_C31-47_S31-47-3.1.md)
- [R.I. Gen. Laws § 31-47-4 § 31-47-4. Notice of termination.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T31_C31-47_S31-47-4.md)
- [R.I. Gen. Laws § 31-47-5 § 31-47-5. Acceptance of financial security deposits.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T31_C31-47_S31-47-5.md)
- [R.I. Gen. Laws § 31-47-6 § 31-47-6. Release of financial security bonds or deposits.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T31_C31-47_S31-47-6.md)
- [R.I. Gen. Laws § 31-47-7 § 31-47-7. Self-insurers.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T31_C31-47_S31-47-7.md)
- [R.I. Gen. Laws § 31-47-9 § 31-47-9. Penalties.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T31_C31-47_S31-47-9.md)
- [R.I. Gen. Laws § 31-47-9.1 § 31-47-9.1. Penalties €” Illegal evidence of financial security.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T31_C31-47_S31-47-9.1.md)
- [R.I. Gen. Laws § 31-47-11 § 31-47-11. Reinstatement of suspended license or registration.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T31_C31-47_S31-47-11.md)
- [R.I. Gen. Laws § 31-47-12 § 31-47-12. Police officers and agents of administrator of the division of motor vehicles €” Fees collected, forms of proof.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T31_C31-47_S31-47-12.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_RI_T31_C31-47_S31-47-5. Check the current official text before relying on it. Not legal advice.