Sec. 38a-875. (Formerly Sec. 38-318). Stay of proceedings in which impaired insurer a party.
Sec. 38a-875. (Formerly Sec. 38-318). Stay of proceedings in which impaired
insurer a party. All proceedings in which the impaired insurer is a party in any court
in this state shall be stayed one hundred eighty 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. The association may apply to have any
judgment under any decision, order, verdict, or finding based on default set aside by
the same court that made such judgment and shall be permitted to defend against such
suit on the merits.
(1972, P.A. 280, S. 18.)
History: Sec. 38-318 transferred to Sec. 38a-875 in 1991.