Nebraska Statutes 60-520. Judgments; payments sufficient to satisfy requirements
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Judgments in excess of the amounts specified in subdivision (14) of section 60-501 shall, for the purpose of the Motor Vehicle Safety Responsibility Act only, be deemed satisfied when payments in the amounts so specified have been credited thereon. Payments made in settlement of any claims because of bodily injury, death, or property damage arising from a motor vehicle accident shall be credited in reduction of the respective amounts so specified.
Source
- Laws 1949, c. 178, § 20, p. 492;
- Laws 2010, LB650, § 33;
- Laws 2011, LB289, § 27;
- Laws 2012, LB1155, § 16;
- Laws 2019, LB156, § 14.
Terms Used In Nebraska Statutes 60-520
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.