Effective: June 29, 1994
Latest Legislation: House Bill 89 - 120th General Assembly
To permit a proper defense by the Ohio insurance guaranty association of all pending causes of action, all proceedings in which an insolvent insurer is a party or is obligated to defend a party in any court in this state shall be stayed for six months, and such additional time thereafter as may be determined by the court in which the proceedings are pending or with jurisdiction over the proceedings, from the date the insolvency is determined or an ancillary proceeding is instituted in this state, whichever is later.
As to any covered claims arising from any judgment, order, decision, verdict, or finding based on a default or stipulation of the insolvent insurer or its insured, the association, either on its own behalf or on behalf of the insured, may apply to the court to have its judgment, order, decision, verdict, or finding vacated. The court shall grant the application, and the association shall be permitted to defend the claim on the merits.
Structure Ohio Revised Code
Chapter 3955 | Property and Casualty Insurance Guaranty Association
Section 3955.01 | Property and Casualty Insurance Guaranty Association Definitions.
Section 3955.03 | Purposes of Chapter.
Section 3955.04 | Liberal Construction of Chapter.
Section 3955.05 | Nonapplicability to Certain Kinds of Insurance.
Section 3955.06 | Ohio Insurance Guaranty Association.
Section 3955.07 | Board of Directors.
Section 3955.08 | Association Powers and Duties.
Section 3955.09 | Plan of Operation and Amendments.
Section 3955.10 | Superintendent of Insurance - Powers and Duties.
Section 3955.12 | Subrogation of Association - Recovery Against Insolvent Insurers.
Section 3955.13 | Exhausting Rights Under Other Policy.
Section 3955.14 | Aiding Detection and Prevention of Insurer Insolvencies.
Section 3955.15 | Examination and Regulation by Superintendent - Annual Financial Report.
Section 3955.16 | Exemption From Fees and Taxation.
Section 3955.17 | Rates - Factors and Calculation.
Section 3955.19 | Staying Pending Proceedings Involving Insolvent Insurers.