[§431:10C‑305.5]  Right to
reimbursement of deductible paid; when.  If an insured is involved in an
accident with an uninsured motorist and the insured paid a deductible amount
for damages incurred in that accident, and if the insurer recovers any money from
the uninsured motorist, the insurer shall reimburse the insured, provided that:



(1)  The amount recovered shall be divided equally
between the insured and the insurer;



(2)  The amount of the insured's reimbursement shall
not exceed the deductible paid; and



(3)  If the amount of damages exceeds $2,500, the
insurer shall:



(A)  Pay the full amount of the deductible to
the insured; or



(B)  Initiate proceedings against the uninsured
motorist to recover damages. [L 1988, c 21, §1]