In the event of payment to any person under the coverage required by this subchapter and subject to the terms and conditions of the coverage, the insurer making the payment shall be entitled to the proceeds of any settlement or judgment, to the extent of the payment, resulting from the exercise of any rights of recovery of the person against any person or organization legally responsible for the bodily injury for which the payment is made, including the proceeds recoverable from the assets of the insolvent insurer.Acts 1975, No. 893, § 5; A.S.A. 1947, § 73-2405. In the event of payment to any person under the coverage required by this subchapter and subject to the terms and conditions of the coverage, the insurer making the payment shall be entitled to the proceeds of any settlement or judgment, to the extent of the payment, resulting from the exercise of any rights of recovery of the person against any person or organization legally responsible for the bodily injury for which the payment is made, including the proceeds recoverable from the assets of the insolvent insurer.Acts 1975, No. 893, § 5; A.S.A. 1947, § 73-2405.
Arkansas Legal Code