No claim for damage to property resulting from a motor vehicle accident may be denied or payment delayed because the person who is entitled to payment or any other person has a claim pending for bodily injury which may have arisen from the same or any other accident. Whenever an insurer has the appropriate motor vehicle coverage for the party liable and there is no dispute as to either the liability for the payment of the full property damages or the amount of monetary equivalent of these damages, then the amount payable is immediately due and owing and must be paid promptly. If the director or his designee determines that the payment of the amount was unnecessarily delayed, he may assess interest on the amount at the rate of eight percent per annum.
HISTORY: Former 1976 Code Section 56-11-240 [1962 Code Section 46-750.124; 1974 (58) 2718; 1987 Act No. 155, Section 25] recodified as Section 38-77-330 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 812.