Mich. Comp. Laws § 257.514

Current through Public Act 57 of the 2024 Legislative Session
Section 257.514 - When judgments deemed satisfied

Judgments herein referred to shall, for the purpose of this chapter only, be deemed satisfied:

1.When $20,000.00 is credited upon any judgment or judgments rendered in excess of that amount because of bodily injury to or death of 1 person as the result of any one accident; or
2.When, subject to such limit of $20,000.00 because of bodily injury to or death of 1 person, the sum of $40,000.00 is credited upon any judgment or judgments rendered in excess of that amount because of bodily injury to or death of 2 or more persons as the result of any one accident; or
3.When $10,000.00 is 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.

MCL 257.514

1949, Act 300, Eff. 9/23/1949 ;--Am. 1958, Act 155, Eff. 9/13/1958 ;--Am. 1971, Act 191, Imd. Eff. 12/20/1971 .