Iowa Code 321A.15 – Payments sufficient to satisfy requirements
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1. Judgments referred to in this chapter shall, for the purpose of this chapter only, be deemed satisfied when the following occur:
a. When twenty thousand dollars 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.
b. When, subject to the limit of twenty thousand dollars because of bodily injury to or death of one person, the sum of forty thousand dollars 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.
c. When fifteen thousand dollars 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.
Terms Used In Iowa Code 321A.15
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Judgment: means a judgment which has become final by expiration without appeal during the time within which an appeal might have been perfected, or a judgment if an appeal from the judgment has been perfected, which has not been stayed by the execution, filing, and approval of a bond as provided in rule of Iowa Code 321A.1
- Person: means every natural person, firm, partnership, association, or corporation. See Iowa Code 321A.1
- Person: includes any individual, firm, corporation, partnership, joint adventure, or association, and the plural as well as the singular number. See Iowa Code 321H.2
- property: includes personal and real property. See Iowa Code 4.1
- Vehicle: means any vehicle as defined in chapter 321. See Iowa Code 321H.2
2. Provided, however, payments made in settlements of any 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.