National No-Fault Motor Vehicle Insurance Act

[AI summary unavailable — showing source text] National No-Fault Motor Vehicle Insurance Act - Prohibits any person from registering any motor vehicle upon a public street or road unless such vehicle is insured under a qualifying no-fault policy pursuant to regulations prescribed by the Secretary of Transportation or provides a security bond, proof of qualification as a self insurer, or other securities affording security equivalent to that afforded under a qualifying no-fault policy. Provides for a fine of not to exceed $1,000 or imprisonment for not to exceed six months, or both, for knowingly violating the above requirements. Requires that to be a qualifying no-fault policy, an insurance policy, except as to the occupants of a motor vehicle other than the insured vehicle or the operator or user of a motor vehicle engaging in criminal conduct, must provide benefits as follows: (1) to any person injured an amount equal to the net economic loss, as defined by this Act, sustained by such person as a result of such injury; and (2) to the legal representative of any person killed for the benefit of the surviving spouse and any dependent, without regard to fault, an amount equal to the net economic loss sustained by such spouse and…