Which of the following can constitute proof of financial responsibility for a vehicle?
- A $50,000 certificate of deposit
- A surety bond
- A liability insurance policy
Under South Dakota law, you must have proof of financial responsibility for each registered vehicle you own. The usual way to satisfy this requirement is to obtain a liability insurance policy on each of your vehicles. Alternatives include a surety bond, a certificate of deposit or securities worth $50,000 deposited with the state treasurer, or a certificate of self-insurance (if you own at least 26 vehicles).
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