Nebraska § 44-2718 Stay of proceedings against impaired insurer; purpose; association; apply to set aside judgment or defend

Nebraska Statutes

§ 44-2718 — Stay of proceedings against impaired insurer; purpose; association; apply to set aside judgment or defend

Nebraska·Ch. 44 Insurance

All proceedings in which the impaired insurer is a party in any court in this state shall be stayed one hundred eighty 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 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. Nothing in this section shall be deemed to limit the powers of a receiver appointed pursuant to the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, or to stay any proceeding brought pursuant to such act.

Free access — add to your briefcase to read the full text and ask questions with AI

All proceedings in which the impaired insurer is a party in any court in this state shall be stayed one hundred eighty 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 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. Nothing in this section shall be deemed to limit the powers of a receiver appointed pursuant to the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, or to stay any proceeding brought pursuant to such act.

Nebraska § 44-2718 (Stay of proceedings against impaired insurer; purpose; association; apply to set aside judgment or defend) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: Laws 1975, LB 217, § 18; Laws 2019, LB159, § 8. Cross References: Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, see section 44-4862.