321A.9 - FORM AND AMOUNT OF SECURITY.

        321A.9  FORM AND AMOUNT OF SECURITY.         1.  The security required under sections 321A.4 to 321A.11 shall      be in such form and in such amount as the department may require but      in no case in excess of the limits specified in section 321A.5 in      reference to the acceptable limits of a policy or bond.  The person      depositing security shall specify in writing the person or persons on      whose behalf the deposit is made and, at any time while such deposit      is in the custody of the department or state treasurer, the person      depositing it may, in writing, amend the specification of the person      or persons on whose behalf the deposit is made to include an      additional person or persons; provided, however, that a single      deposit of security shall be applicable only on behalf of persons      required to furnish security because of the same accident.         2.  The department may reduce the amount of security ordered in      any case within six months after the date of the accident if, in the      department's judgment, the amount ordered is excessive.  In case the      security originally ordered has been deposited the excess deposited      over the reduced amount ordered shall be returned to the depositor or      the depositor's personal representative forthwith, notwithstanding      the provisions of section 321A.10.  
         Section History: Early Form
         [C50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 321A.9] 
         Section History: Recent Form
         92 Acts, ch 1175, § 43         Referred to in § 321A.2, 321A.8, 321A.10, 321A.11