Section 20-279.15 - [Effective 1/1/2025] Payment sufficient to satisfy requirementsIn addition to other methods of satisfaction provided by law, judgments herein referred to shall, for the purpose of this Article, be deemed satisfied:
(1) When fifty thousand dollars ($50,000) has been credited upon any judgment or judgments rendered in excess of that amount because of bodily injury to or death of one person as the result of any one accident; or(2) When, subject to such limit of fifty thousand dollars ($50,000) because of bodily injury to or death of one person, the sum of one hundred thousand dollars ($100,000) has been credited upon any judgment or judgments rendered in excess of that amount because of bodily injury to or death of two or more persons as the result of any one accident; or(3) When fifty thousand dollars ($50,000) has been credited upon any judgment or judgments rendered in excess of that amount because of injury to or destruction of property of others as a result of any one accident; Provided, however, payments made in settlement of any claims because of bodily injury, death or property damage arising from a motor vehicle accident shall be credited in reduction of the amounts provided for in this section.
N.C. Gen. Stat. § 20-279.15
Amended by 2023 N.C. Sess. Laws 133,s. 12-c, eff. 1/1/2025, applicable to policies issued or renewed on or after that date.1953, c. 1300, s. 15; 1963 , c. 1238; 1967 , c. 277, s. 3; 1973 , c. 745, s. 3; c. 889; 1979 , c. 832, ss. 3- 5; 1991 , c. 469, s. 3; 1991 Reg. Sess.,1992 , c. 837, s. 10; 1999-228, s. 3.This section is set out more than once due to postponed, multiple, or conflicting amendments.