Title 29-A: MOTOR VEHICLES HEADING: PL 1993, C. 683, PT. A, §2 (NEW); PT. B, §5 (AFF)
Chapter 13: FINANCIAL RESPONSIBILITY AND INSURANCE
Subchapter 2: GENERAL FINANCIAL RESPONSIBILITY
§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).
Data for this page extracted on 10/16/2012 08:31:25.