1420                               Laws of Maryland                          Ch. 534

copy of the record of the action to the official in charge of the
issuance of licenses and registration certificates in the State in which
the nonresident resides, if the law of the other State provides for
action in relation thereto similar to that provided for in subsection
(c) of this section.

(c) Upon receipt of a certification that the operating privilege of
a resident of this State has been suspended or revoked in any other
state pursuant to a law providing for its suspension or revocation
for failure to deposit security for the payment of judgments arising
out of a motor-vehicle accident, under circumstances which would
require the department to suspend a nonresident's operating privilege
had the accident occurred in this State, the department shall sus-
pend the license of the resident if he was the driver, and all of his
registrations if he was the owner of a motor vehicle involved in such
accident. The suspension shall continue until the resident furnishes
evidence of his compliance with the law of the other State relating to
the deposit of security.

(D) THE DEPARTMENT SHALL NOT IMPOSE A SUSPEN-
SION UNDER THE FINANCIAL RESPONSIBILITY LAWS OF
THIS STATE IF A NONRESIDENT FURNISHES EVIDENCE
OF FINANCIAL RESPONSIBILITY BY A POLICY OF AUTOMO-
BILE LIABILITY AND PROPERTY DAMAGE INSURANCE,
EFFECTIVE AT THE TIME OF THE ACCIDENT, WHICH
COMPLIES WITH THE MINIMUM FINANCIAL RESPONSI-
BILITY REQUIREMENTS OF THE LAWS OF THE STATE OF
WHICH HE IS A RESIDENT.

§ 7-214. Authority of department to decrease amount of security.

The department may reduce the amount of security ordered in
any case within 6 months after the date of the accident if in its
judgment the amount ordered is excessive. If the security originally
ordered has been deposited, the excess deposit over the reduced
amount ordered shall be returned to the depositor or his personal
representative forthwith.

§ 7-215. Correction of action of department.

Whenever the department has taken any action or has failed to
take any action under this subtitle by reason of having received
erroneous information or by reason of having received no informa-
tion, upon receiving correct information within one year after the
date of an accident the department shall take appropriate action to
carry out the purposes and effect of this subtitle. The foregoing
however, shall not be deemed to require the department to reevaluate
the amount of any deposit required under this article.

§ 7-216. Custody of security.

The department shall place any security deposited with it under
this subtitle in the custody of the State Treasurer.

§ 7-217. Disposition of security.

(a) The security shall be applicable and available only

(1) For the payment of any settlement agreement covering any
claim arising out of the accident upon instruction of the person who
made the deposit, or