S513 - North Carolina Farm Act of 2015, Sec. 20: Clarify Reimbursement of Third-Party Claims From the Commercial and Noncommercial Leaking Petroleum Underground Storage Tank Cleanup Funds (SL 2015-263)

Overview: Sec. 20 of S.L. 2015-263 provides guidance for the use of Commercial or Noncommercial Leaking Petroleum Underground Storage Tank Cleanup Funds for payment of compensation to third parties for bodily injury and property damage in excess of $100,000 per occurrence. There is, however, a rule (15A NCAC 02P .0403) that defines the terms "third-party bodily injury" and "third-party property damage." This section codifies the limitations of 15A NCAC 02P .0403 into statute, and makes other conforming changes.

This section became effective September 30, 2015, and applies to claims for reimbursement pending or submitted on or after that date.