516A.4 - INSURER MAKING PAYMENT -- REIMBURSEMENT.

        516A.4  INSURER MAKING PAYMENT -- REIMBURSEMENT.         In the event of payment to any person under the coverage required      by this chapter and subject to the terms and conditions of such      coverage, the insurer making such payment shall, to the extent      thereof, be entitled to the proceeds of any settlement or judgment      resulting from the exercise of any rights of recovery of such person      against any person or organization legally responsible for the bodily      injury for which such payment is made, including the proceeds      recoverable from the assets of the insolvent insurer.  The person to      whom said payment is made under the insolvency protection required by      this chapter shall to the extent thereof, be deemed to have waived      any right to proceed to enforce such a judgment against the assets of      the judgment debtor who was insured by the insolvent insurer whose      insolvency resulted in said payment being made, other than assets      recovered or recoverable by such judgment debtor from such insolvent      insurer.  
         Section History: Early Form
         [C71, 73, 75, 77, 79, 81, § 516A.4]