40-3627.Same; no actions brought, maintained or further presented againstinsurer or liquidator after order appointing liquidator; full faith and creditgiven to orders of other states; intervention in action pending in anotherstate; actions or proceedings on behalf of estate of insurer on or afterliquidation; statute of limitations does not run on actions between filing anddenial of petition; standing of guaranty association.(a) Upon issuance of an order appointing a liquidator of adomestic insurer or of an alien insurer domiciled in this state, no action atlaw or equity or in arbitration shall be brought against the insurer orliquidator, whether in this state or outside this state, nor shall any suchexistingactions be maintained or further presented after issuance of such order. Thecourts of this state shall give full faith and credit to injunctions againstthe liquidator or the company or the continuation of existing actions againstthe liquidator or the company, when such injunctions are included in an orderto liquidate an insurer issued pursuant to corresponding provisions in otherstates. Whenever, in the liquidator's judgment, protection of the estate ofthe insurer necessitates intervention in an action against the insurer that ispending outside this state, such liquidator may intervene in the action. Theliquidator may defend any action in which the liquidator intervenes under thissection at the expense of the estate of the insurer.
(b) The liquidator, upon or after an order for liquidation, within twoyears or such other longer time as applicable law may permit, may institute anaction or proceeding on behalf of the estate of the insurer upon any cause ofaction against which the period of limitation fixed by applicable law has notexpired at the time of the filing of the petition upon which such order isentered. Where, by any agreement, a period of limitation is fixed forinstituting a suit or proceeding upon any claim, or for filing any claim, proofof claim, proof of loss, demand, notice, or the like, or where in anyproceeding, judicial or otherwise, a period of limitation is fixed, either inthe proceeding or by applicable law, for taking any action, filing any claim orpleading, or doing any act, and where in any such case the period had notexpired at the date of the filing of the petition, the liquidator, for thebenefit of the estate, may take any such action or do any such act, required oforpermitted to the insurer, within a period of 180 days subsequent to the entryof an order for liquidation, or within such further period as is shown to thesatisfaction of the court not to be unfairly prejudicial to the other party.
(c) No statute of limitation or defense of laches shall run with respect toany action against an insurer between the filing of a petition for liquidationagainst an insurer and the denial of the petition. Any action against theinsurer that might have been commenced when the petition was filed may becommenced for at least 60 days after the petition is denied.
(d) Any guaranty association or foreign guaranty association shall havestanding to appear in any court proceeding concerning the liquidation of aninsurer if such association is or may become liable to act as a result of theliquidation.
40-3627.Same; no actions brought, maintained or further presented againstinsurer or liquidator after order appointing liquidator; full faith and creditgiven to orders of other states; intervention in action pending in anotherstate; actions or proceedings on behalf of estate of insurer on or afterliquidation; statute of limitations does not run on actions between filing anddenial of petition; standing of guaranty association.(a) Upon issuance of an order appointing a liquidator of adomestic insurer or of an alien insurer domiciled in this state, no action atlaw or equity or in arbitration shall be brought against the insurer orliquidator, whether in this state or outside this state, nor shall any suchexistingactions be maintained or further presented after issuance of such order. Thecourts of this state shall give full faith and credit to injunctions againstthe liquidator or the company or the continuation of existing actions againstthe liquidator or the company, when such injunctions are included in an orderto liquidate an insurer issued pursuant to corresponding provisions in otherstates. Whenever, in the liquidator's judgment, protection of the estate ofthe insurer necessitates intervention in an action against the insurer that ispending outside this state, such liquidator may intervene in the action. Theliquidator may defend any action in which the liquidator intervenes under thissection at the expense of the estate of the insurer.
(b) The liquidator, upon or after an order for liquidation, within twoyears or such other longer time as applicable law may permit, may institute anaction or proceeding on behalf of the estate of the insurer upon any cause ofaction against which the period of limitation fixed by applicable law has notexpired at the time of the filing of the petition upon which such order isentered. Where, by any agreement, a period of limitation is fixed forinstituting a suit or proceeding upon any claim, or for filing any claim, proofof claim, proof of loss, demand, notice, or the like, or where in anyproceeding, judicial or otherwise, a period of limitation is fixed, either inthe proceeding or by applicable law, for taking any action, filing any claim orpleading, or doing any act, and where in any such case the period had notexpired at the date of the filing of the petition, the liquidator, for thebenefit of the estate, may take any such action or do any such act, required oforpermitted to the insurer, within a period of 180 days subsequent to the entryof an order for liquidation, or within such further period as is shown to thesatisfaction of the court not to be unfairly prejudicial to the other party.
(c) No statute of limitation or defense of laches shall run with respect toany action against an insurer between the filing of a petition for liquidationagainst an insurer and the denial of the petition. Any action against theinsurer that might have been commenced when the petition was filed may becommenced for at least 60 days after the petition is denied.
(d) Any guaranty association or foreign guaranty association shall havestanding to appear in any court proceeding concerning the liquidation of aninsurer if such association is or may become liable to act as a result of theliquidation.
40-3627.Same; no actions brought, maintained or further presented againstinsurer or liquidator after order appointing liquidator; full faith and creditgiven to orders of other states; intervention in action pending in anotherstate; actions or proceedings on behalf of estate of insurer on or afterliquidation; statute of limitations does not run on actions between filing anddenial of petition; standing of guaranty association.(a) Upon issuance of an order appointing a liquidator of adomestic insurer or of an alien insurer domiciled in this state, no action atlaw or equity or in arbitration shall be brought against the insurer orliquidator, whether in this state or outside this state, nor shall any suchexistingactions be maintained or further presented after issuance of such order. Thecourts of this state shall give full faith and credit to injunctions againstthe liquidator or the company or the continuation of existing actions againstthe liquidator or the company, when such injunctions are included in an orderto liquidate an insurer issued pursuant to corresponding provisions in otherstates. Whenever, in the liquidator's judgment, protection of the estate ofthe insurer necessitates intervention in an action against the insurer that ispending outside this state, such liquidator may intervene in the action. Theliquidator may defend any action in which the liquidator intervenes under thissection at the expense of the estate of the insurer.
(b) The liquidator, upon or after an order for liquidation, within twoyears or such other longer time as applicable law may permit, may institute anaction or proceeding on behalf of the estate of the insurer upon any cause ofaction against which the period of limitation fixed by applicable law has notexpired at the time of the filing of the petition upon which such order isentered. Where, by any agreement, a period of limitation is fixed forinstituting a suit or proceeding upon any claim, or for filing any claim, proofof claim, proof of loss, demand, notice, or the like, or where in anyproceeding, judicial or otherwise, a period of limitation is fixed, either inthe proceeding or by applicable law, for taking any action, filing any claim orpleading, or doing any act, and where in any such case the period had notexpired at the date of the filing of the petition, the liquidator, for thebenefit of the estate, may take any such action or do any such act, required oforpermitted to the insurer, within a period of 180 days subsequent to the entryof an order for liquidation, or within such further period as is shown to thesatisfaction of the court not to be unfairly prejudicial to the other party.
(c) No statute of limitation or defense of laches shall run with respect toany action against an insurer between the filing of a petition for liquidationagainst an insurer and the denial of the petition. Any action against theinsurer that might have been commenced when the petition was filed may becommenced for at least 60 days after the petition is denied.
(d) Any guaranty association or foreign guaranty association shall havestanding to appear in any court proceeding concerning the liquidation of aninsurer if such association is or may become liable to act as a result of theliquidation.
