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2023 Maryland Statutes
Insurance
Title 9 - Impaired Entities
Subtitle 4 - Life and Health Insurance Guaranty Corporation Act
Section 9-418 - Stay of Proceedings; Default Judgments
Universal Citation:
MD Insurance Code § 9-418 (2023)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
(a) To allow proper legal action by the Corporation on any matter germane to its powers or duties, each proceeding in which the impaired insurer is a party in a court in the State shall be stayed for 60 days after the date an order of liquidation, rehabilitation, or conservation is final.
(b) If a court enters a judgment under a decision, order, verdict, or finding based on default, the Corporation may:
(1) apply to have the judgment, decision, order, verdict, or finding set aside by the same court that made it; and
(2) defend against the suit on the merits.
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