Terms Used In North Carolina General Statutes 58-62-81

  • Association: means the North Carolina Life and Health Insurance Guaranty Association created under N. See North Carolina General Statutes 58-62-16
  • Germane: On the subject of the pending bill or other business; a strict standard of relevance.
  • Insolvent insurer: means a member insurer that, after the effective date of this Article, is placed under an order of liquidation with a finding of insolvency by a court of competent jurisdiction. See North Carolina General Statutes 58-62-16
  • State: means any state, the District of Columbia, Puerto Rico, and a United States possession, territory, or protectorate. See North Carolina General Statutes 58-62-16
  • Verdict: The decision of a petit jury or a judge.

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 the judgment set aside by the same court that made the judgment and may defend against such suit on the merits. (1991, c. 681, s. 56; 2018-120, s. 1.1(m).)

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