20-694. Stay of proceedings; reopening default judgments
All proceedings in which the impaired insurer or insolvent insurer or the impaired insurer's or insolvent insurer's insured 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 board on any matters germane to its powers or duties. At the request of the board and on a showing of good cause, the court may lengthen the stay prescribed in this section. As to a judgment under any decision, order, verdict or finding based on default, the board may apply to have such judgment set aside by the same court that made such judgment and shall be permitted to defend against such suit on the merits.
Section: Previous 20-687 20-688 20-689 20-690 20-691 20-692 20-693 20-694 20-695 20-696 20-696.01 20-696.02 20-696.03 20-696.04 20-697 NextLast modified: October 13, 2016