# Tenn. Code Ann. § 55-12-105: Security deposit following accident - Acceptable proof of financial security - Revocation of registration or operating privileges for failure to deposit security - Notice - Appeal > Tennessee · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_TN_T55_C12_S55-12-105 ## Section - **Citation:** Tenn. Code Ann. § 55-12-105 - **Heading:** Security deposit following accident - Acceptable proof of financial security - Revocation of registration or operating privileges for failure to deposit security - Notice - Appeal - **Jurisdiction:** Tennessee - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** TN Code / Title 55 / Chapter 12 / Section 55-12-105 ## Text (a) The commissioner shall, upon receiving an accident report of an accident occurring in this state that has resulted in bodily injury, or death, or damage to the property of any one (1) person in excess of one thousand five hundred dollars ($1,500), and upon determining that there is a reasonable possibility of a judgment against the owner, operator, or both, and upon receiving notice of a claim filed against the owner, operator, or both, revoke the license and shall request the commissioner of revenue to immediately revoke all registrations of the owner, operator, or both, of a motor vehicle involved in the accident, and in case of a nonresident, the privilege of operating a motor vehicle within this state and of the use within this state of any motor vehicle owned by the nonresident, unless the operator, owner, or both, deposits security in a sum that shall be sufficient in the judgment of the commissioner, and in no event less than one thousand five hundred dollars ($1,500), to satisfy any judgment or judgments resulting from the accident that may be recovered against the operator, owner, or both. (b) The following, and only the following, shall be acceptable proof of financial security: (1) Filing of written proof of insurance coverage with the commissioner on forms approved by the commissioner; (2) The deposit of cash with the commissioner of no less than the amount specified in § 55-12-102 , or in the total amount of all damages suffered, whichever is less, subject to a minimum deposit of one thousand five hundred dollars ($1,500); (3) The execution and filing of a bond with the commissioner of no less than the amount specified in § 55-12-102 , or in the total amount of all damages suffered, whichever is less, subject to a minimum bond of one thousand five hundred dollars ($1,500); or (4) The submission to the commissioner of notarized releases executed by all parties who had previously filed claims with the department as a result of the accident. (c) Any notice of revocation issued under this section shall be sent by United States mail to the last known address of the operator and owner not less than twenty (20) days prior to the effective date of revocation, and shall state the amount required as security, and that the operator, owner, or both are entitled to an administrative hearing conducted by the commissioner of safety or the commissioner's delegate pursuant to a request under § 55-12-103(a) . Any request for an administrative hearing must be submitted in writing on or before the effective date of the proposed revocation. (d) Notwithstanding this section to the contrary, if an accident results in damage to state or local government property in excess of four hundred dollars ($400), then this section shall apply, and if a deposit of cash or an execution and filing of a bond is made as proof of financial security, then the minimum security deposit or bond is five hundred dollars ($500). Amended by 2018 Tenn. Acts, ch. 555,Secs.s5, s8 eff. 1/1/2019. Amended by 2018 Tenn. Acts, ch. 555,s 4, eff. 1/1/2019. Acts 1977, ch. 446, § 5; T.C.A., § 59-1255; Acts 1983, ch. 53, § 3; 1986, ch. 842, § 18; 1989, ch. 263, § 4; 2007, ch. 484, § 80. or an execution and filing of a bond is made as proof of financial security, then the minimum security deposit or bond is five hundred dollars ($500). Amended by 2018 Tenn. Acts, ch. 555,Secs.s5, s8 eff. 1/1/2019. Amended by 2018 Tenn. Acts, ch. 555,s 4, eff. 1/1/2019. Acts 1977, ch. 446, § 5; T.C.A., § 59-1255; Acts 1983, ch. 53, § 3; 1986, ch. 842, § 18; 1989, ch. 263, § 4; 2007, ch. 484, § 80. (a) The commissioner shall, upon receiving an accident report of an accident occurring in this state that has resulted in bodily injury, or death, or damage to the property of any one (1) person in excess of one thousand five hundred dollars ($1,500), and upon determining that there is a reasonable possibility of a judgment against the owner, operator, or both, and upon receiving notice of a claim filed against the owner, operator, or both, revoke the license and shall request the commissioner of revenue to immediately revoke all registrations of the owner, operator, or both, of a motor vehicle involved in the accident, and in case of a nonresident, the privilege of operating a motor vehicle within this state and of the use within this state of any motor vehicle owned by the nonresident, unless the operator, owner, or both, deposits security in a sum that shall be sufficient in the judgment of the commissioner, and in no event less than one thousand five hundred dollars ($1,500), to satisfy any judgment or judgments resulting from the accident that may be recovered against the operator, owner, or both. (b) The following, and only the following, shall be acceptable proof of financial security: (1) Filing of written proof of insurance coverage with the commissioner on forms approved by the commissioner; (2) The deposit of cash with the commissioner of no less than the amount specified in § 55-12-102 , or in the total amount of all damages suffered, whichever is less, subject to a minimum deposit of one thousand five hundred dollars ($1,500); (3) The execution and filing of a bond with the commissioner of no less than the amount specified in § 55-12-102 , or in the total amount of all damages suffered, whichever is less, subject to a minimum bond of one thousand five hundred dollars ($1,500); or (4) The submission to the commissioner of notarized releases executed by all parties who had previously filed claims with the department as a result of the accident. (1) Filing of written proof of insurance coverage with the commissioner on forms approved by the commissioner; (2) The deposit of cash with the commissioner of no less than the amount specified in § 55-12-102 , or in the total amount of all damages suffered, whichever is less, subject to a minimum deposit of one thousand five hundred dollars ($1,500); (3) The execution and filing of a bond with the commissioner of no less than the amount specified in § 55-12-102 , or in the total amount of all damages suffered, whichever is less, subject to a minimum bond of one thousand five hundred dollars ($1,500); or (4) The submission to the commissioner of notarized releases executed by all parties who had previously filed claims with the department as a result of the accident. (c) Any notice of revocation issued under this section shall be sent by United States mail to the last known address of the operator and owner not less than twenty (20) days prior to the effective date of revocation, and shall state the amount required as security, and that the operator, owner, or both are entitled to an administrative hearing conducted by the commissioner of safety or the commissioner's delegate pursuant to a request under § 55-12-103(a) . Any request for an administrative hearing must be submitted in writing on or before the effective date of the proposed revocation. tive date of revocation, and shall state the amount required as security, and that the operator, owner, or both are entitled to an administrative hearing conducted by the commissioner of safety or the commissioner's delegate pursuant to a request under § 55-12-103(a) . Any request for an administrative hearing must be submitted in writing on or before the effective date of the proposed revocation. (d) Notwithstanding this section to the contrary, if an accident results in damage to state or local government property in excess of four hundred dollars ($400), then this section shall apply, and if a deposit of cash or an execution and filing of a bond is made as proof of financial security, then the minimum security deposit or bond is five hundred dollars ($500). Amended by 2018 Tenn. Acts, ch. 555,Secs.s5, s8 eff. 1/1/2019. Amended by 2018 Tenn. Acts, ch. 555,s 4, eff. 1/1/2019. Acts 1977, ch. 446, § 5; T.C.A., § 59-1255; Acts 1983, ch. 53, § 3; 1986, ch. 842, § 18; 1989, ch. 263, § 4; 2007, ch. 484, § 80. ## Nearby sections - [Tenn. Code Ann. § 55-12-101 Short title](https://www.frixlaw.com/law-library/statutes/STATE_TN_T55_C12_S55-12-101.md) - [Tenn. Code Ann. § 55-12-102 Part definitions](https://www.frixlaw.com/law-library/statutes/STATE_TN_T55_C12_S55-12-102.md) - [Tenn. Code Ann. § 55-12-103 Administration - Enforcement - Rules and regulations - Appeals - Judicial review](https://www.frixlaw.com/law-library/statutes/STATE_TN_T55_C12_S55-12-103.md) - [Tenn. Code Ann. § 55-12-104 Report of accident required - Suspension of registration or operating privileges for failure to report - Restoration - Access to information](https://www.frixlaw.com/law-library/statutes/STATE_TN_T55_C12_S55-12-104.md) - [Tenn. Code Ann. § 55-12-105 Security deposit following accident - Acceptable proof of financial security - Revocation of registration or operating privileges for failure to deposit security - Notice - Appeal](https://www.frixlaw.com/law-library/statutes/STATE_TN_T55_C12_S55-12-105.md) - [Tenn. Code Ann. § 55-12-106 Exceptions to requirement of security and revocation - Additional acceptable proof of financial security](https://www.frixlaw.com/law-library/statutes/STATE_TN_T55_C12_S55-12-106.md) - [Tenn. Code Ann. § 55-12-107 Minimum requirements of insurance policy or bond for security - Acceptable proof of existence of insurance or bond](https://www.frixlaw.com/law-library/statutes/STATE_TN_T55_C12_S55-12-107.md) - [Tenn. Code Ann. § 55-12-108 Duration of suspension or revocation for failure to report accident or deposit security - Restoration - Determination of fault inadmissible in court of law](https://www.frixlaw.com/law-library/statutes/STATE_TN_T55_C12_S55-12-108.md) - [Tenn. Code Ann. § 55-12-109 Report of suspension or revocation of nonresident's operating privileges - Revocation or suspension of resident's registration and operating privileges for accidents in other states - Restoration](https://www.frixlaw.com/law-library/statutes/STATE_TN_T55_C12_S55-12-109.md) - [Tenn. Code Ann. § 55-12-110 Proof of damages sustained - Determination of amount of financial security required](https://www.frixlaw.com/law-library/statutes/STATE_TN_T55_C12_S55-12-110.md) - [Tenn. Code Ann. § 55-12-111 Self-insurers](https://www.frixlaw.com/law-library/statutes/STATE_TN_T55_C12_S55-12-111.md) - [Tenn. Code Ann. § 55-12-112 Custody of security - Payment of judgments - Return of deposit](https://www.frixlaw.com/law-library/statutes/STATE_TN_T55_C12_S55-12-112.md) - [Tenn. Code Ann. § 55-12-113 "Conviction" defined](https://www.frixlaw.com/law-library/statutes/STATE_TN_T55_C12_S55-12-113.md) - [Tenn. Code Ann. § 55-12-114 Suspension of all registrations upon suspension or revocation of license - Restoration fee - Exception upon filing proof of financial responsibility - Release - Compliance by Tennessee resident moving to or returning from another state](https://www.frixlaw.com/law-library/statutes/STATE_TN_T55_C12_S55-12-114.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_TN_T55_C12_S55-12-105. Check the current official text before relying on it. Not legal advice.