South Carolina Code 38-29-180. Stay of proceedings involving impaired insurer; setting aside default judgment
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Terms Used In South Carolina Code 38-29-180
- Association: means the South Carolina Life and Accident and Health Insurance Guaranty Association created under § 38-29-50. See South Carolina Code 38-29-20
- Germane: On the subject of the pending bill or other business; a strict standard of relevance.
- Insurer: includes a corporation, fraternal organization, burial association, other association, partnership, society, order, individual, or aggregation of individuals engaging or proposing or attempting to engage as principals in any kind of insurance or surety business, including the exchanging of reciprocal or interinsurance contracts between individuals, partnerships, and corporations. See South Carolina Code 38-1-20
- State: means a state, the District of Columbia, Puerto Rico, and a United States' possession, territory, or protectorate. See South Carolina Code 38-29-20
- Verdict: The decision of a petit jury or a judge.
All proceedings in which the impaired or insolvent insurer is a party in any court in this State must be stayed one hundred eighty 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 must be permitted to defend against the suit on the merits.