485.304 - Payments sufficient to satisfy requirements. - Nevada Statutes

485.304  Payments sufficient to satisfy requirements.  Judgments must for the purpose of this chapter only, be deemed satisfied:

      1.  When $15,000 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;

      2.  When, subject to the limit of $15,000 because of bodily injury to or death of one person, the sum of $30,000 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 $10,000 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,

Ê but payments made in settlement of any claims because of bodily injury, death or property damage arising from a motor vehicle accident must be credited in reduction of the amounts provided for in this section.

      (Added to NRS by 1957, 724; A 1963, 221; 1969, 177; 1981, 628)