Financial Responsibility Law

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Dictionary Says

Definition of 'Financial Responsibility Law'

A law which requires an individual to prove that he or she is able to pay for damages resulting from an accident. A financial responsibility law does not specifically require the individual to have insurance coverage; instead, the law requires the individual to be able to demonstrate the financial capacity to pay, even if the individual is not at fault. This type of law is commonly associated with automobiles.
Investopedia Says

Investopedia explains 'Financial Responsibility Law'

Financial responsibility laws exist because not all states have a compulsory insurance law. However, many states consider an individual with an insurance policy to be compliant with a financial responsibility law, since most insurance policies have a minimum coverage that meets the state standard.
Search results for

'Financial Responsibility Law'

  • Can You Live A Debt-Free Life?

    http://www.investopedia.com/articles/younginvestors/07/debt-free.asp
    ... to go now, don't expect Harvard to foot your bill for law school, but ... seems unfair
    to require a person to prove his or her financial responsibility by forcing ...

  • Is Your Teen Ready For A Credit Card?

    http://www.investopedia.com/articles/pf/08/credit-card-teen.asp
    ... children learn to manage their everyday financial lives before ... The under-your-credit-
    roof law: The whole ... learn the values of fiscal responsibility while they ...

  • Series 63 Study Guide - Registrations of Persons - Investment ...

    http://www.investopedia.com/exam-guide/series-63/registration-of-persons/investment-adviser-ongoing-requirements.asp
    ... "No law, rule, regulation ... action of any state or political subdivisionthereof shall
    establish capital, custody, margin, financial responsibility, making and ...

  • The Alphabet Soup Of Financial Certifications

    http://www.investopedia.com/articles/01/101001.asp
    ... code of ethics and professional responsibility and financial ... in gaining expertise
    in financial planning in ... pension planning, insurance law, income taxation ...

  • History Of The US Federal Trade Commission

    http://www.investopedia.com/articles/financial-theory/10/the-us-federal-trade-commission.asp
    ... the FTC was charged with the responsibility of preventing ... civil law suits against
    violators of the law. ... in federal court to secure financial compensation and ...

  • CFA Level 1 Study Guide - Financial Statements - The Auditor and ...

    http://www.investopedia.com/exam-guide/cfa-level-1/financial-statements/auditor-audit-opinion.asp
    ... 1.4 Standard IA: Knowledge of the Law; 1.5 Standard IB: Independence And Objectivity; ...
    4.6 The Demand and Supply of Financial and Physical Capital; 4.7 Economic ...

  • Financial History: The Rise Of Modern Accounting

    http://www.investopedia.com/articles/tax/08/accounting-taxes.asp
    ... turned around and delegated the responsibility of establishing ... Financial reporting
    may be the limelight of accounting, but ... ensure that the law is being followed ...

  • 6 Economic Gifts I Want For Christmas - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/1109/6-Economic-Gifts-I-Want-For-Christmas.aspx
    ... and reward structure will lower the probability of financial bubbles in ... But the law
    expired. ... Reserve – The Fed should have systemic risk responsibility as it ...

  • The Enron Collapse: A Look Back - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/1211/The-Enron-Collapse-A-Look-Back.aspx
    ... In July of 2002, President Bush signed into law the Sarbanes-Oxley Act, intended
    to "enhance corporate responsibility, enhance financial disclosures and combat ...

  • How Your Credit Card Is Changing - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0310/How-Your-Credit-Card-Is-Changing.aspx
    ... taxpayer dollars doled out to financial institutions like ... signed the Credit Card
    Accountability, Responsibility and Disclosure ... or the CARD Act, into law in May ...

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