All proceedings in which the insolvent insurer is a party in any court in Vermont shall be stayed 180 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 the 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.
Vt. Stat. Ann. tit. 8, § 4188
Stay of proceedings; reopening default judgments
Known as the Vermont Life and Health Insurance Guaranty Association Act
The act spans §§ 8–8 (20 sections).
Added 2023, No. 32, § 9, eff
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.