§4618. Stay of proceedings; reopening default judgments
All proceedings in which the impaired insurer is a party in any court in this State shall be stayed 60 days from the date an order of liquidation, rehabilitation or conservation is final to permit proper legal action by the association on any matters germane to its powers or duties. As to a judgment under any decision, order, verdict or finding based on default, the association may apply to have the judgment set aside by the same court that made the judgment and shall be permitted to defend against the suit on the merits. [PL 1983, c. 846 (NEW).]
SECTION HISTORY
PL 1983, c. 846 (NEW).
Structure Maine Revised Statutes
TITLE 24-A: MAINE INSURANCE CODE
Chapter 62: MAINE LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION
24-A §4605. Definitions (REPEALED)
24-A §4606. Creation of the association
24-A §4607. Board of directors
24-A §4608. Powers and duties of the association
24-A §4611. Duties and powers of the superintendent
24-A §4612. Prevention of impairments (REPEALED)
24-A §4612-A. Prevention of impairments and insolvencies
24-A §4613. Appointment of association nominee
24-A §4614. Miscellaneous provisions
24-A §4615. Examination of the association; annual report
24-A §4618. Stay of proceedings; reopening default judgments
24-A §4619. Report to Legislature (REPEALED)
24-A §4620. Prohibited advertisement of association in insurance sales