Arizona Laws 20-649. Extension of time
A. Except as provided in subsection D, if any law, rule, order or agreement fixes a period of time within which the insurer subject to a delinquency proceeding or the receiver may commence an action, and that period is enforceable and has not expired before the date of the commencement of the delinquency proceeding under this title, the receiver may commence the action before any of the following, whichever is later:
Terms Used In Arizona Laws 20-649
- Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
- Court: means , unless the context otherwise requires, the judge of the superior court assigned to the delinquency proceeding. See Arizona Laws 20-611
- Delinquency proceeding: means any proceeding commenced against an insurer pursuant to this article for the purpose of liquidating, rehabilitating, reorganizing or conserving such insurer. See Arizona Laws 20-611
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Insurer: means any person, firm, corporation, association or aggregation of persons doing an insurance business and subject to the insurance supervisory authority of, or to liquidation, rehabilitation, reorganization or conservation by the director or the equivalent insurance supervisory official of another state. See Arizona Laws 20-611
- Receiver: means the director as receiver, liquidator, rehabilitator or conservator as the context may require. See Arizona Laws 20-611
1. The end of the period, including any suspension of the period occurring on or after commencement of the delinquency proceeding under this title.
2. Five years after the entry of the order appointing the receiver.
3. A date set by the court that in no event is more than eight years after the entry of the order appointing the receiver.
B. Except as provided in subsection A or D, if any law, rule, order or agreement fixes a period of time within which the insurer subject to a delinquency proceeding or the receiver may file any pleading, motion, demand, notice or proof of claim or loss, may cure a default or may perform any other similar act and that period is enforceable and has not expired before the commencement of the delinquency proceeding, the receiver may file, cure or perform before either of the following, whichever is later:
1. The end of the period, including any suspension of the period occurring on or after the commencement of the delinquency proceeding under this title.
2. One hundred twenty days after the entry of the order appointing the receiver.
C. Except as provided in subsection D, if any law, rule, order or agreement fixes a period for commencing or continuing a civil action in any court on a claim against the insurer in receivership, and that period has not expired before the date of the commencement of the delinquency proceeding, the court may extend that period to permit the filing of a claim with the receiver pursuant to this article.
D. The extension of time provided under this section does not apply to any other time period imposed by this chapter, an agreement executed by the receiver and approved by the court or an order of the court.