§ 15 — Stay of pending court proceedings involving insolvent insurer as party; defense by Fund

Massachusetts § 15

• Jurisdiction: Massachusetts
• Part I: ADMINISTRATION OF THE GOVERNMENT
• Title XXII: CORPORATIONS
• Ch. 175D: MASSACHUSETTS INSURERS INSOLVENCY FUND

Text

[ Text of section effective until April 9, 2025. For text effective April 9, 2025, see below.]Section 15. All proceedings in which the insolvent insurer is a party in any court in this commonwealth shall be stayed for up to six months and such additional time thereafter as may be determined by the court from the date the insolvency is declared or an ancillary proceeding is instituted in the commonwealth whichever is later to permit proper defense by the Fund of all pending causes of action.Chapter 175D: Section 15. Rates and premiums for policies to which this chapter applies; sufficiency to recoup amounts paid to Fund[ Text of section as recodified by 2024, 389, Sec. 3 effective April 9, 2025. For text effective until April 9, 2025, see above.]Section 15. The rates and premiums charged for insurance policies to which this chapter applies shall include amounts sufficient to recoup over a reasonable length of time a sum equal to the amounts paid to the Fund by the member insurer less any amounts returned to the member insurer by the Fund.