Section 1607 - Satisfied judgments1.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).]
1993, c. 683, §A2 (NEW) . 1993, c. 683, §B5 (AFF) . 1997, c. 176, § 7 (AMD) . 1997, c. 176, § 8 (AFF) .