Vermont Statutes Title 8 Sec. 4188
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Vermont Statutes Title 8 Sec. 4188
- Association: means the Vermont Life and Health Insurance Guaranty Association created under section 4176 of this chapter. See
- Germane: On the subject of the pending bill or other business; a strict standard of relevance.
- Insolvent insurer: means a member insurer that, after the effective date of this chapter, is placed under an order of liquidation by a court of competent jurisdiction with a finding of insolvency. See
- Verdict: The decision of a petit jury or a judge.
§ 4188. Stay of proceedings; reopening default judgments
All proceedings in which the insolvent insurer is a party in any court in Vermont 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. As to a judgment under any decision, order, verdict, or finding based on the 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. (Added 2023, No. 32, § 9, eff. July 1, 2023.)