Whenever any proof of financial responsibility filed by any person under this chapter no longer fulfills the purpose for which required, the Commissioner shall require other proof of financial responsibility as required by this chapter and shall suspend the person’s driver’s license, registration cards and license plates pending the furnishing of proof as required.

Nonpayment of the assessment provided for in § 46.2-455 shall also be reason for suspension of the driver’s license, registration cards and license plates of a person offering cash or securities as proof of financial responsibility under this chapter. The suspension shall be promptly initiated by the Commissioner on receipt of written notice of nonpayment of the assessment from the State Treasurer and shall take effect ten days from the date of a written notice sent by the Commissioner to the person by first-class mail, the notice to notify the person of the forthcoming suspension if payment is not received within the ten-day period.