Sec. 3. (a) The bureau shall:
(1) cancel a bond;
(2) return a certificate of insurance; or
(3) direct the treasurer of state to return money or securities to the person entitled to the money or securities;
upon the substitution and acceptance of other adequate proof of financial responsibility under this article.
(b) The treasurer of state shall return the money or securities requested when directed to return the money or securities under subsection (a).