83-23-233 - Stay of judicial proceedings upon order of liquidation, rehabilitation, or conservation. - Mississippi Statutes

§ 83-23-233. Stay of judicial proceedings upon order of liquidation, rehabilitation, or conservation.
 

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 and 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. 
 

Sources: Laws,  1985, ch. 482, § 17, eff from and after passage (approved April 9, 1985).