California Insurance Code 1067.16 – All proceedings in which the insolvent insurer is a party in any …
Current as of: 2024 | Check for updates
|
Other versions
All proceedings in which the insolvent insurer is a party in any court in this state shall be stayed not less than 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 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 shall be permitted to defend against the suit on the merits.
(Amended by Stats. 2010, Ch. 334, Sec. 14. (SB 1408) Effective September 27, 2010.)
Terms Used In California Insurance Code 1067.16
- Association: means the California Life and Health Insurance Guarantee Association created pursuant to Section 1067. See California Insurance Code 1067.04
- Germane: On the subject of the pending bill or other business; a strict standard of relevance.
- Insolvent insurer: means a member insurer that, after October 1, 1990, is placed under an order of liquidation by a court of competent jurisdiction with a finding of insolvency. See California Insurance Code 1067.04
- State: means a state, the District of Columbia, Puerto Rico, and a United States possession, territory, or protectorate. See California Insurance Code 1067.04
- Verdict: The decision of a petit jury or a judge.