Establishes the "Automobile Accident Injury Fund" to cover medical costs for individuals injured in stolen vehicle accidents.
The bill establishes the "Automobile Accident Injury Fund" in the Department of Banking and Insurance to cover medical costs for individuals injured in automobile accidents where the vehicle was stolen at the time of the incident. The fund is intended for those whose medical costs are not covered by health or automobile insurance. The Department of Banking and Insurance will create regulations for payments from the fund, including application processes and criteria for determining payment amounts. Payments will be issued regardless of whether the stolen vehicle was adequately insured.
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