33-22-1602. Notice -- shared costs of third-party action -- limitation.
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/mt/title-33/chapter-22/part-16/33-22-1602·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
33-22-1602 . Notice -- shared costs of third-party action -- limitation.
(1)If an insured intends to institute an action for damages against a third party, the insured shall give the insurer reasonable notice of the intention to institute the action.
(2)The insured may request that the insurer pay a proportionate share of the reasonable costs of the third-party action, including attorney fees.
(3)An insurer may elect not to participate in the cost of the action. If an election is made, the insurer waives 50% of any subrogation rights granted to it by 33-22-1601 .
(4)The insurer's right of subrogation granted in 33-22-1601 may not be enforced until the injured insured has been fully compensated for the insured's injuries.