Swain v. Nationwide Mutual Insurance Company

“Proof of financial responsibility” is defined in the “Motor Vehicle Safety-Responsibility Act of 1953” (S.L. 1953, c. 1300, sec. 1(10), as amended by S.L. 1955, c. 1355, sec. 1; G.S. 20-279.1, 1959 Cumulative Supplement), as follows: “Proof of ability to respond in damages for liability, on account of accident occurring subsequent to the effective date of said proof, arising out of the ownership, maintenance or use of a motor vehicle, in the amount of $5,000 because of bodily injury to or death of one person in any one accident, and, subject to said limit for one person, in the amount of…