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1928 Arizona Attorney General Reports and Opinions 1 (1928)

handle is hein.sag/sagaz0049 and id is 1 raw text is: Arizona State Hi-bway e-artment, Thoenix, trizona. Gentlemen: Attention: Yr. 7itworth The financial statements of John 7. !orris, doing business under the name of Yucson Driverless Oar Company, 210 3. Broadway Street, Tueson, and of John J. Walters, doincr business under the name of U-Drive-It 0ompany, L7 North Second 3treet, 2hoenix, Arizona, sub- mitted to you for the purpose of procurin permits by the respective applicants to operate drive yourself oars have been submitted to us for our consideration and advice to you concerning the same. Section 7, Chapter 3, of the Highway Code provides that one intending to engage in the business of renting motor vehicles without drivers may, in lieu of the public liability insuranoe required under said section, furnish the Vehicle Division with satisfactory proof of the applicant's ability to respond in damages in the amount of .10,000 when one motor vehicle is registered and '5,000 addi-tional for each motor vehicle in exces of one. The renuirements of the statute is that the applicant make proof satisfiotory to you of his ability to respond in dam'ees in the amount stated. In determinincr what rroof is satisfactory, the purpose to be accomplished by the statute must be kept in mind. The purpose of the statute is to nrotect the nublic and to insure means out of which a judment nrocured by a member of the public injured by the operation of a drive yourself oar may be paid. It is our interpretation that the finanoial statement reuired b:, Section P7 is not to be tested by the banker's test of a man's assets, thit is, the value at a forced sale of the pr.operty shown. :e believe the test of value of property listed in a financial statement under this section should be its market vilue in the ordinary course of business. We further advise that the statute does not eruire you, where the statement is made by the applicant under oath, to investigate eroh item of the statement filed. Your duties require you only to examine the proof submitted to you and if from this proof you are satisfied that the applicant will ,nril 11, 19 8

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