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2012 SESSION

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12103388D
SENATE BILL NO. 365 Offered January 11, 2012 Prefiled January 11, 2012 A BILL to amend and reenact § 46.2-419 of the Code of Virginia, relating to satisfaction of judgments for damages in a motor vehicle accident. ---------- Patron-- Deeds ---------- Referred to Committee on Transportation ----------

Be it enacted by the General Assembly of Virginia:

1.  That § 46.2-419 of the Code of Virginia is amended and reenacted as follows:

§ 46.2-419. When judgment satisfied.

A. Every judgment for damages in any motor vehicle accident referred to in this chapter shall, for the purpose of this chapter, be satisfied:

1. When paid in full or when $25,000 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;

2. When, subject to the limit of $25,000 because of bodily injury to or death of one person, the judgment has been paid in full or when the sum of $50,000 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;

3. When the judgment has been paid in full or when $20,000 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; or

4. When the judgment has been discharged in bankruptcy; or

5. When the judgment is no longer enforceable due to limitations on enforcement pursuant to § 8.01-251 or 16.1-94.1 or subdivision B 4 of § 16.1-69.55.

B. 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 amount provided in this section.