New York § 7717 Stay of proceedings; reopening default judgments

New York Statutes

§ 7717 — Stay of proceedings; reopening default judgments

New York § 7717

Law ISCInsurance

Art. 77The Life and Health Insurance Company Guaranty Corporation of New York Act

This text of New York § 7717 (Stay of proceedings; reopening default judgments) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Insurance § 7717 (2026).

Text

  § 7717. Stay of proceedings; reopening default judgments. All\nproceedings in which the impaired or insolvent insurer is a party in any\ncourt in this state shall be stayed sixty days from the date an order of\nliquidation, rehabilitation, or conservation is final to permit proper\nlegal action by the corporation on any matters germane to its powers or\nduties. As to judgment under any decision, order, verdict or finding\nbased on default the corporation may apply to have such judgment set\naside by the same court that made such judgment and, if such application\nis granted in the court's discretion, the corporation shall be permitted\nto defend against such suit on the merits. The provisions of this\nsection shall be in addition to any other provision provided by law.\n

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§ 7717. Stay of proceedings; reopening default judgments. All\nproceedings in which the impaired or insolvent insurer is a party in any\ncourt in this state shall be stayed sixty days from the date an order of\nliquidation, rehabilitation, or conservation is final to permit proper\nlegal action by the corporation on any matters germane to its powers or\nduties. As to judgment under any decision, order, verdict or finding\nbased on default the corporation may apply to have such judgment set\naside by the same court that made such judgment and, if such application\nis granted in the court's discretion, the corporation shall be permitted\nto defend against such suit on the merits. The provisions of this\nsection shall be in addition to any other provision provided by law.\n