§431:10C-305.5 Right to reimbursement of deductible paid; when. If an insured is involved in an accident with an uninsured motorist and the insured paid a deductible amount for damages incurred in that accident, and if the insurer recovers any money from the uninsured motorist, the insurer shall reimburse the insured, provided that:
(1) The amount recovered shall be divided equally between the insured and the insurer;
(2) The amount of the insured's reimbursement shall not exceed the deductible paid; and
(3) If the amount of damages exceeds $2,500, the insurer shall:
(A) Pay the full amount of the deductible to the insured; or
(B) Initiate proceedings against the uninsured motorist to recover damages. [L 1988, c 21, §1]
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