Illinois Compiled Statutes 215 ILCS 5 Illinois Insurance Code. Section 531.18

    (215 ILCS 5/531.18) (from Ch. 73, par. 1065.80-18)

    Sec. 531.18. Stay of Proceedings - Reopening Default Judgments.) All proceedings in which the insolvent insurer is a party in any court in this State shall be stayed 180 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 such judgment set aside by the same court that made such judgment and must be permitted to defend against such suit on the merits.

(Source: P.A. 96-1450, eff. 8-20-10.)

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Last modified: February 18, 2015