(a) All proceedings in which the insolvent insurer is a party in any court in this state shall be stayed sixty (60) days from the date an order of liquidation, rehabilitation, or conservation is final to permit proper legal action by the association on any matters relative to its powers or duties.

Terms Used In Tennessee Code 56-12-217

  • Association: means the Tennessee life and health insurance guaranty association created under §. See Tennessee Code 56-12-203
  • Insolvent insurer: means a member insurer which, after July 1, 1989, is placed under an order of liquidation by a court of competent jurisdiction with a finding of insolvency. See Tennessee Code 56-12-203
  • State: means a state, the District of Columbia, Puerto Rico, and a United States possession, territory, or protectorate. See Tennessee Code 56-12-203
  • Verdict: The decision of a petit jury or a judge.
(b) 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 entered the judgment and shall be permitted to defend against the suit on the merits.
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