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Maryland Code, Insurance § 9-418

Current as of January 01, 2025 | Updated by Findlaw Staff

(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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Cite this article: FindLaw.com - Maryland Code, Insurance § 9-418 - last updated January 01, 2025 | https://codes.findlaw.com/md/insurance/md-code-insurance-sect-9-418/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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