2011 New Mexico Statutes
Chapter 59A: Insurance Code
Article 42: Life and Health Insurance Guaranty Fund, 59A-42-1 through 59A-42-16
Section 59A-42-16: Stay of proceedings; reopening default judgments.
59A-42-16. Stay of proceedings; reopening default judgments.
All proceedings in which the insolvent insurer is a party in any court in this state shall be stayed sixty (60) 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 the judgment set aside by the same court that made the judgment and shall be permitted to defend against the suit on the merits.
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