Arizona Revised Statutes (Last Updated: March 31, 2016) |
Title 28. Transportation |
Chapter 9. VEHICLE INSURANCE AND FINANCIAL RESPONSIBILITY |
Article 3. Proof of Financial Responsibility for the Future |
Sec 28-4074. Payments; satisfaction of judgments
Latest version.
-
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:
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.