29.1538 Insolvency or bankruptcy.

Cite as [A.S.C.A. § 29.1538]

No policy of liability insurance may be issued or delivered in American Samoa unless it con-tains provisions to the effect that the insolvency or bankruptcy of the insured may not release the insurer from the payment of damages for injuries sustained or loss occasioned during the term of the policy, and that in case execution against the insured is returned unsatisfied in any action brought by the injured person or his heirs because of the insolvency or bankruptcy, an action may be maintained by the injured person or his heirs or representatives against the insurer within the terms and limits of the policy for the amount of the judgment, not exceeding the amount of the policy.

History: 1974, PL 13-58 § 1.