29-A §1607. Satisfied judgments
Title 29-A: MOTOR VEHICLES HEADING: PL 1993, C. 683, PT. A, §2 (NEW); PT. B, §5 (AFF)
Chapter 13: FINANCIAL REPONSIBILITY AND INSURANCE HEADING: PL 1993, C. 683, PT. A, §2 (NEW); PT. B, §5 (AFF)
Subchapter 2: GENERAL FINANCIAL RESPONSIBILITY HEADING: PL 1993, C. 683, PT. A, §2 (NEW); PT. B, §5 (AFF)
§1607. Satisfied judgments
1. Satisfaction. To meet the obligation of financial responsibility only, a judgment is satisfied:
A. When $50,000 has been credited on a judgment for bodily injury to or death of one person as the result of one accident rendered in excess of that amount; [1997, c. 176, §7 (AMD); 1997, c. 176, §8 (AFF).]
B. Subject to paragraph A, when $100,000 has been credited on a judgment for bodily injury to or death of 2 or more people as the result of one accident rendered in excess of that amount; or [1997, c. 176, §7 (AMD); 1997, c. 176, §8 (AFF).]
C. When $25,000 has been credited on a judgment for injury to or destruction of property of others as a result of one accident rendered in excess of that amount. [1997, c. 176, §7 (AMD); 1997, c. 176, §8 (AFF).]
[ 1997, c. 176, §7 (AMD); 1997, c. 176, §8 (AFF) .]
2. Settlement payments. Payments made in settlement of a claim for bodily injury, death or property damage arising from a motor vehicle accident must be credited against the amounts provided for in this section.
[ 1993, c. 683, Pt. A, §2 (NEW); 1993, c. 683, Pt. B, §5 (AFF) .]
SECTION HISTORY
1993, c. 683, §A2 (NEW). 1993, c. 683, §B5 (AFF). 1997, c. 176, §7 (AMD). 1997, c. 176, §8 (AFF).