Insurance Law 5216 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 5215 Collusive judgments up ARTICLE 52 Motor Vehicle Accident Indemnification Corporation next SECTION 5217 "Hit and run" causes of action Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 5216 Assignments of judgments to corporation Insurance (ISC) CHAPTER 28, ARTICLE 52 § 5216. Assignments of judgments to corporation. (a) The corporation shall not pay any sum, in compliance with an order made for that purpose, if the claim is founded upon a judgment, except a judgment obtained against the corporation under this article, until the petitioner assigns the judgment to the corporation. (b) After assignment the corporation shall be entitled to enforce the judgment for the full amount with interest and costs. Money collected on the judgment in excess of all amounts paid by the corporation shall be paid to the judgment creditor.