Arizona Laws 28-4074. Payments; satisfaction of judgments
A. For the purpose of this chapter only, a judgment referred to in this article is deemed satisfied on compliance with one of the following:
Terms Used In Arizona Laws 28-4074
- Judgment: means a judgment that has become final by expiration without appeal of the time within which an appeal might have been perfected or by final affirmation on appeal and that is rendered by a court of competent jurisdiction of any state or of the United States on a cause of action either:
(a) Arising out of the ownership, maintenance or use of a motor vehicle for damages, including damages for care and loss of services, because of either bodily injury to or death of a person or injury to or destruction of property, including the loss of use of the property. See Arizona Laws 28-4001
- Motor vehicle: means a self-propelled vehicle that is registered or required to be registered under the laws of this state. See Arizona Laws 28-4001
- Property: includes both real and personal property. See Arizona Laws 1-215
1. When payment sufficient to satisfy the limits prescribed in section 28-4009 is made.
2. If higher limits are required pursuant to section 28-4033, when payment sufficient to satisfy those limits is made.
B. Payments made in settlements of claims because of bodily injury, death or property damage arising from a motor vehicle accident shall be credited in reduction of the amounts provided for in this section.