No Impairment of Contract Obligations/No Exemption for Prior Existing, Policies

No Impairment of Contract Obligations/No Exemption for Prior Existing, Policies. (a) Nothing in this chapter shall be construed to alter, enlarge, amend, infringe, or impair any obligations or duties of any contracts or insurance policies in existence upon the effective date of this chapter. However, any contracts or insurance polices in existence upon the effective date of this chapter that are inconsistent with this chapter shall not be renewed or extended. (b) No motor vehicle owner or operator shall be exempt from any of the provisions of this chapter as a result of having a motor vehicle liability insurance policy in existence on the effective date of this chapter that is inconsistent with this chapter. After the effective date of this chapter, all contracts and insurance polices entered into, formed, or otherwise agreed upon shall be consistent with the provisions of this chapter; if any such contracts or policies are inconsistent with this chapter, they shall be reformed to be consistent, as provided in this chapter. Source: PL 11-55, § 6 (§ 8118), modified. Commission Comment: See comment to 9 CMC § 8201 for effective date provisions of PL 11-55 and this chapter.