New York Laws
Article 77 - The Life and Health Insurance Company Guaranty Corporation of New York Act
7717 - Stay of Proceedings; Reopening Default Judgments.

§ 7717. Stay of proceedings; reopening default judgments. All
proceedings in which the impaired or insolvent insurer is a party in any
court in this state shall be stayed sixty days from the date an order of
liquidation, rehabilitation, or conservation is final to permit proper
legal action by the corporation on any matters germane to its powers or
duties. As to judgment under any decision, order, verdict or finding
based on default the corporation may apply to have such judgment set
aside by the same court that made such judgment and, if such application
is granted in the court's discretion, the corporation shall be permitted
to defend against such suit on the merits. The provisions of this
section shall be in addition to any other provision provided by law.

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