No person whose license or registration has been suspended or cancelled under the provisions of this chapter shall transfer title to the vehicle owned by him to any member of his immediate family until such person has furnished proof of financial responsibility as is otherwise required by the provisions of this chapter and same shall have been approved by the department. A member of a person’s immediate family under the provisions hereof shall include any person related to the transferor by blood or marriage within the third degree computed according to the civil law and any person, whether related or not, residing within the same household as the transferor.
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