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Are costs resulting from a third-party lawsuit eligible?

April 26, 2017costs eligible lawsuit third-party

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Are costs resulting from a third-party lawsuit eligible?

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Yes. Upon service of a writ or petition filed in a court of law by a third party against the owner for damages resulting from bodily injury or property damage, the owner shall provide written notice to the Oil Fund Disbursement Board within 60 days of service. Owners who fail to provide timely notice to the board shall not be eligible for reimbursement. The owner shall undertake a reasonable and adequate defense to preserve the right to seek reimbursement. In the event a demand for third-party damages is made against the owner before a writ is filed, the owner shall forward the demand to the board and shall inform the board of any attempts made to settle the matter before the filing of a writ. The owner shall also undertake any action necessary to obtain a reasonable settlement. Contact the Fund Administrator (603) 271-2370 for more details.