financial responsibility act

financial-responsibility act. A state statute conditioning license and registration of motor vehicles on proof of insurance or other financial accountability. [Cases: Automobiles 43; Insurance 2737. C.J.S. Insurance §§ 1027, 1031; Motor Vehicles §§ 223–224.]

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词条贡献者

双语律师William，国内知名法学院金融专业，擅长翻译各类与投资基金、投资顾问及金融衍生工具相关的法律文件。