All proceedings in which the insolvent insurer is a party in any court in this state shall be stayed sixty 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 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.
Mo. Rev. Stat. § 376.754
Stay of proceedings, insolvent insurer, when
Known as the Standard Valuation Law
The act spans §§ 376–376 (408 sections).
Effective: 28 Aug 1988; (L. 1988 S.B. 430 § 34)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.