(1)  A proceeding 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.

Terms Used In Utah Code 31A-28-118

  • Association: means the Utah Life and Health Insurance Guaranty Association continued under Section 31A-28-106. See Utah Code 31A-28-105
  • Germane: On the subject of the pending bill or other business; a strict standard of relevance.
  • insolvent: means that:
(a) an insurer is unable to pay the insurer's obligations as the obligations are due;
(b) an insurer's total adjusted capital is less than the insurer's mandatory control level RBC under Subsection 31A-17-601(8)(c); or
(c) an insurer's admitted assets are less than the insurer's liabilities. See Utah Code 31A-1-301
  • Order: means an order of the commissioner. See Utah Code 31A-1-301
  • Proceeding: includes an action or special statutory proceeding. See Utah Code 31A-1-301
  • State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
  • Verdict: The decision of a petit jury or a judge.
    • (2)  The association may apply to have a judgment under any decision, order, verdict, or finding based on default set aside by the same court that made the judgment. The association shall be permitted to defend against the suit on the merits.

    Amended by Chapter 292, 2010 General Session

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