508C.17 - STAY OF PROCEEDINGS -- REOPENING DEFAULT JUDGMENTS. - Iowa Statutes

508C.17 STAY OF PROCEEDINGS -- REOPENING DEFAULT JUDGMENTS. Proceedings in which the insolvent insurer is a party in a 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 matters germane to its powers or duties. The association may apply to have a judgment under a decision, order, verdict, or finding based on default, set aside by the same court that entered the judgment, and shall be permitted to defend against the suit on the merits.          Section History: Recent Form 87 Acts, ch 223, §17