New Mexico § 66-5-215 - Payments sufficient to satisfy requirements

§ 66-5-215. Payments sufficient to satisfy requirements

A. Judgments herein referred to shall, for the purpose of the Mandatory Financial

Responsibility Act only, be deemed satisfied when: (1) twenty-five thousand dollars ($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) subject to the limit of twenty-five thousand dollars ($25,000) because of bodily

injury to or death of one person, the sum of fifty thousand dollars ($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;

or (3) ten thousand dollars ($10,000) 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. B. However, payments made in settlements of any claims because of bodily injury, death

or property damage arising from the accident shall be credited in reduction of the

amounts provided for in this section.