§ 20-279.15. Payment sufficient to satisfy requirements. - North Carolina Statutes

§20‑279.15.  Payment sufficient to satisfy requirements.

In addition to other methodsof satisfaction provided by law, judgments herein referred to shall, for thepurpose of this Article, be deemed satisfied:

(1)        When thirty thousanddollars ($30,000) has been credited upon any judgment or judgments rendered inexcess of that amount because of bodily injury to or death of one person as theresult of any one accident; or

(2)        When, subject tosuch limit of thirty thousand dollars ($30,000) because of bodily injury to ordeath of one person, the sum of sixty thousand dollars ($60,000) has beencredited upon any judgment or judgments rendered in excess of that amountbecause of bodily injury to or death of two or more persons as the result ofany one accident; or

(3)        When twenty‑fivethousand dollars ($25,000) has been credited upon any judgment or judgmentsrendered in excess of that amount because of injury to or destruction ofproperty of others as a result of any one accident;

Provided, however, paymentsmade in settlement of any claims because of bodily injury, death or propertydamage arising from a motor vehicle accident shall be credited in reduction ofthe amounts provided for in this section. (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.)