N.Y. ISC Law § 7717
This is the official text of N.Y. ISC Law § 7717, part of New York’s ISC Law — part of the compiled statutory law of New York, published by the state as "ISC Law." Browse the sections below, each linked to its official government source.
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Stay of proceedings; reopening default judgments
Official statutory text
§ 7717. Stay of proceedings; reopening default judgments. All\nproceedings in which the impaired or insolvent insurer is a party in any\ncourt in this state shall be stayed sixty days from the date an order of\nliquidation, rehabilitation, or conservation is final to permit proper\nlegal action by the corporation on any matters germane to its powers or\nduties. As to judgment under any decision, order, verdict or finding\nbased on default the corporation may apply to have such judgment set\naside by the same court that made such judgment and, if such application\nis granted in the court's discretion, the corporation shall be permitted\nto defend against such suit on the merits. The provisions of this\nsection shall be in addition to any other provision provided by law.\n
Status: in_force · Read it on the official government site
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