Kentucky Statutes 304.42-180 – Court proceedings to be stayed
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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 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 such judgment set aside by the same court that made such judgment and shall be permitted to defend against such suit on the merits.
Effective: June 17, 1978
History: Created 1978 Ky. Acts ch. 282, sec. 18, effective June 17, 1978.
Effective: June 17, 1978
Terms Used In Kentucky Statutes 304.42-180
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Association: means the Kentucky Life and Health Insurance Guaranty Association created under KRS §. See Kentucky Statutes 304.42-050
- Germane: On the subject of the pending bill or other business; a strict standard of relevance.
- Insolvent insurer: means a member insurer which after June 17, 1978, is placed under an order of liquidation by a court of competent jurisdiction with a finding of insolvency. See Kentucky Statutes 304.42-050
- State: means a state, the District of Columbia, Puerto Rico, and a United States possession, territory, or protectorate. See Kentucky Statutes 304.42-050
- Verdict: The decision of a petit jury or a judge.
History: Created 1978 Ky. Acts ch. 282, sec. 18, effective June 17, 1978.