Oregon Statutes - Chapter 734 - Rehabilitation, Liquidation and Conservation of Insurers - Section 734.880 - Stay of proceeding involving insolvent insurer.

All proceedings in which an insolvent insurer is a party in any court in this state shall be stayed 60 days from the date an order of liquidation, rehabilitation or conservation is final to permit proper legal action by the Oregon Life and Health Insurance Guaranty Association on any matters germane to its powers or duties. As to 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 the judgment, and shall be permitted to defend against such suit on the merits. [1975 c.251 §19]

Section:  Previous  734.790  734.800  734.805  734.810  734.815  734.820  734.825  734.830  734.835  734.840  734.850  734.860  734.870  734.880  734.890  Next

Last modified: August 7, 2008