|
|
To amend sections 4509.51 and 4509.53 of the Revised | 1 |
Code to specify that policies under the Financial | 2 |
Responsibility Law remain subject to their terms | 3 |
and conditions. | 4 |
Section 1. That sections 4509.51 and 4509.53 of the Revised | 5 |
Code be amended to read as follows: | 6 |
Sec. 4509.51. | 7 |
an owner's policy, every owner's policy of liability insurance: | 8 |
(A) Shall designate by explicit description or by appropriate | 9 |
reference all motor vehicles with respect to which coverage is | 10 |
thereby granted; | 11 |
(B) Shall insure the person named therein and any other | 12 |
person, as insured, using any such motor vehicles with the express | 13 |
or implied permission of the insured, against loss from the | 14 |
liability imposed by law for damages arising out of the ownership, | 15 |
maintenance, or use of such vehicles within the United States or | 16 |
17 | |
interest and costs, with respect to each such motor vehicle, as | 18 |
follows: | 19 |
(1) Twelve thousand five hundred dollars because of bodily | 20 |
injury to or death of one person in any one accident; | 21 |
(2) Twenty-five thousand dollars because of bodily injury to | 22 |
or death of two or more persons in any one accident; | 23 |
(3) Seven thousand five hundred dollars because of injury to | 24 |
property of others in any one accident. | 25 |
Sec. 4509.53. Every motor-vehicle liability policy is | 26 |
subject to the following provisions which need not be contained | 27 |
therein: | 28 |
(A) | 29 |
the liability of the insurance carrier with respect to the | 30 |
insurance
required by sections 4509.01 to 4509.78 | 31 |
the Revised Code, shall
become | 32 |
or damage covered by the policy occurs; the policy shall not be | 33 |
canceled or annulled as to such liability by any agreement between | 34 |
the insurance carrier and the insured after the occurrence of the | 35 |
injury; no statement made by the insured or on | 36 |
behalf | 37 |
policy. | 38 |
(B) The satisfaction by the insured of a judgment for such | 39 |
injury or damage shall not be a condition precedent to the right | 40 |
or duty of the insurance carrier to make payment on account of | 41 |
such injury or damage. | 42 |
(C) The insurance carrier may settle any claim covered by the | 43 |
policy, and if such settlement is made in good faith, the amount | 44 |
thereof shall be deductible from the limits of liability specified | 45 |
in division (B) of section 4509.51 of the Revised Code. | 46 |
(D) The policy, the written application therefor, and any | 47 |
rider or indorsement which does not conflict with sections 4509.01 | 48 |
to 4509.78 | 49 |
entire contract between the parties. | 50 |
Section 2. That existing sections 4509.51 and 4509.53 of the | 51 |
Revised Code are hereby repealed. | 52 |