N.Y. VAT. LAW § 333 : NY Code - Section 333: Payments sufficient to satisfy requirements of this article

Search N.Y. VAT. LAW § 333 : NY Code - Section 333: Payments sufficient to satisfy requirements of this article

Every judgment herein referred to shall for the purpose of this  article
  only be deemed satisfied: (a) When twenty-five thousand dollars has been
  credited  upon  any  judgment  or  judgments  rendered in excess of that
  amount because of bodily injury to or when fifty  thousand  dollars  has
  been  credited upon any judgment or judgments rendered in excess of that
  amount because of death of one person as the result of any one accident;
  or
    (b) When subject to such limit of twenty-five thousand dollars because
  of bodily injury to or fifty thousand dollars because of  death  of  one
  person,  the  sum  of  fifty thousand dollars has been credited upon any
  judgment or judgments rendered in  excess  of  that  amount  because  of
  bodily  injury to or when one hundred thousand dollars has been credited
  upon any judgment or judgments rendered in excess of that amount because
  of death of two or more persons as the result of any one accident; or
    (c) When ten thousand dollars 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.
    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 amounts provided for in this section.