§ 31-32-16 - Payment sufficient to satisfy requirements. - Rhode Island Statutes

SECTION 31-32-16

   § 31-32-16  Payment sufficient to satisfyrequirements. – (a) Judgments referred to in this chapter shall, for the purpose of thischapter only, be deemed satisfied:

   (1) When twenty-five thousand dollars ($25,000) has beencredited upon any judgment or judgments rendered in excess of that amountbecause of bodily injury to or death of one person as the result of any oneaccident; or

   (2) When, subject to the limit of twenty-five thousanddollars ($25,000) because of bodily injury to or death of one person, the sumof fifty thousand dollars ($50,000) has been credited upon any judgment orjudgments rendered in excess of that amount because of bodily injury to ordeath of two (2) or more persons as the result of any one accident; or

   (3) When twenty-five thousand dollars ($25,000) has beencredited upon any judgment or judgments rendered in excess of that amountbecause of injury to or destruction of property of others as a result of anyone accident; or seventy-five thousand dollars ($75,000) combined bodily injuryand property damage.

   (b) Provided, payments made in settlements of any claimsbecause of bodily injury, death, or property damage arising from the accidentshall be credited in reduction of the amounts provided for in this section.