                                 CODE OF VIRGINIA

WHEN JUDGMENT SATISFIED (§ 46.2-419)

A. For all policies effective on or after January 1, 2022, but prior to January
1, 2025, 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 $30,000 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 $30,000 because of bodily injury to or death
   of one person, the judgment has been paid in full or when the sum of $60,000
   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.

B. For all policies effective on or after January 1, 2025, every judgment for
damages in any motor vehicle accident referred to in this chapter shall, for the
purposes of this chapter, be satisfied:

   1. When paid in full or when $50,000 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 $50,000 because of bodily injury to or death
   of one person, the judgment has been paid in full or when the sum of $100,000
   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 $25,000 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.

C. 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.

HISTORY: Code 1950, § 46-431; 1954, c. 378; 1958, cc. 501, 541, § 46.1-444;
1968, c. 685; 1970, c. 272; 1972, cc. 47, 433; 1975, c. 382; 1978, c. 550; 1989,
cc. 621, 727; 2021, Sp. Sess. I, c. 273.