Colorado Statutes
§ 10-20-118 — Stay of proceedings - reopening default judgments
All
proceedings in which the impaired or insolvent insurer is a party in any court in this
state shall be stayed for one hundred eighty days after the date an order of
conservation, rehabilitation, or liquidation 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 the judgment set aside by the same court that issued the judgment
and shall be permitted to defend against such suit on the merits.
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Legislative History
Source: L. 91: Entire article added, p. 1280, � 1, effective July 1. L. 2013: Entire
section amended, (SB 13-032), ch. 34, p. 99, � 10, effective March 15.
Nearby Sections
15
§ 10-1-101
Legislative declaration§ 10-1-102
Definitions§ 10-1-105
Actuary§ 10-1-107
Personal fees prohibited§ 10-1-109
Rules of commissioner§ 10-1-111
Invoking aid of courts§ 10-1-113
No seal required on policies§ 10-1-114
Sale of premium notes prohibited§ 10-1-115
Penalty§ 10-1-116
Defamation of other companies - penalty§ 10-1-117
Company unauthorized in other states