375.1170. Stay of other pending actions, duration--statute of limitations not to run. - Missouri Statutes

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Statutes > Missouri > T24 > C375 > 375_1170

Stay of other pending actions, duration--statute of limitations notto run.

375.1170. 1. Any court in this state before which anyaction or proceeding in which the insurer is a party, or isobligated to defend a party, is pending when a rehabilitationorder against the insurer is entered shall stay the action orproceeding for ninety days and such additional time as isnecessary for the rehabilitator to obtain proper representationand prepare for further proceedings. The rehabilitator shalltake such action respecting the pending litigation as he deemsnecessary in the interests of justice and for the protection ofcreditors, policyholders, and the public. The rehabilitatorshall immediately consider all litigation pending outside thisstate and shall petition the courts having jurisdiction over thatlitigation for stays whenever necessary to protect the estate ofthe insurer.

2. No statute of limitations or defense of laches shall runwith respect to any action by or against an insurer between thefiling of a petition for appointment of a rehabilitator for thatinsurer and the order granting or denying that petition. Anyaction against the insurer that might have been commenced whenthe petition was filed may be commenced for at least one hundredtwenty days after the order of rehabilitation is entered or thepetition is denied. The rehabilitator may, upon an order forrehabilitation, within one year or such other longer time asapplicable law may permit, institute an action or proceeding onbehalf of the insurer upon any cause of action against which theperiod of limitation fixed by applicable laws has not expired atthe time of the filing of the petition upon which such order isentered.

3. Any guaranty association or foreign guaranty associationshall have standing to appear in any court proceeding concerningthe rehabilitation of an insurer if such association is or has areasonable probability of becoming liable to act as a result ofthe rehabilitation.

(L. 1991 H.B. 385, et al. § 62)

State Codes and Statutes

Statutes > Missouri > T24 > C375 > 375_1170

Stay of other pending actions, duration--statute of limitations notto run.

375.1170. 1. Any court in this state before which anyaction or proceeding in which the insurer is a party, or isobligated to defend a party, is pending when a rehabilitationorder against the insurer is entered shall stay the action orproceeding for ninety days and such additional time as isnecessary for the rehabilitator to obtain proper representationand prepare for further proceedings. The rehabilitator shalltake such action respecting the pending litigation as he deemsnecessary in the interests of justice and for the protection ofcreditors, policyholders, and the public. The rehabilitatorshall immediately consider all litigation pending outside thisstate and shall petition the courts having jurisdiction over thatlitigation for stays whenever necessary to protect the estate ofthe insurer.

2. No statute of limitations or defense of laches shall runwith respect to any action by or against an insurer between thefiling of a petition for appointment of a rehabilitator for thatinsurer and the order granting or denying that petition. Anyaction against the insurer that might have been commenced whenthe petition was filed may be commenced for at least one hundredtwenty days after the order of rehabilitation is entered or thepetition is denied. The rehabilitator may, upon an order forrehabilitation, within one year or such other longer time asapplicable law may permit, institute an action or proceeding onbehalf of the insurer upon any cause of action against which theperiod of limitation fixed by applicable laws has not expired atthe time of the filing of the petition upon which such order isentered.

3. Any guaranty association or foreign guaranty associationshall have standing to appear in any court proceeding concerningthe rehabilitation of an insurer if such association is or has areasonable probability of becoming liable to act as a result ofthe rehabilitation.

(L. 1991 H.B. 385, et al. § 62)

State Codes and Statutes

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State Codes and Statutes

Statutes > Missouri > T24 > C375 > 375_1170

Stay of other pending actions, duration--statute of limitations notto run.

375.1170. 1. Any court in this state before which anyaction or proceeding in which the insurer is a party, or isobligated to defend a party, is pending when a rehabilitationorder against the insurer is entered shall stay the action orproceeding for ninety days and such additional time as isnecessary for the rehabilitator to obtain proper representationand prepare for further proceedings. The rehabilitator shalltake such action respecting the pending litigation as he deemsnecessary in the interests of justice and for the protection ofcreditors, policyholders, and the public. The rehabilitatorshall immediately consider all litigation pending outside thisstate and shall petition the courts having jurisdiction over thatlitigation for stays whenever necessary to protect the estate ofthe insurer.

2. No statute of limitations or defense of laches shall runwith respect to any action by or against an insurer between thefiling of a petition for appointment of a rehabilitator for thatinsurer and the order granting or denying that petition. Anyaction against the insurer that might have been commenced whenthe petition was filed may be commenced for at least one hundredtwenty days after the order of rehabilitation is entered or thepetition is denied. The rehabilitator may, upon an order forrehabilitation, within one year or such other longer time asapplicable law may permit, institute an action or proceeding onbehalf of the insurer upon any cause of action against which theperiod of limitation fixed by applicable laws has not expired atthe time of the filing of the petition upon which such order isentered.

3. Any guaranty association or foreign guaranty associationshall have standing to appear in any court proceeding concerningthe rehabilitation of an insurer if such association is or has areasonable probability of becoming liable to act as a result ofthe rehabilitation.

(L. 1991 H.B. 385, et al. § 62)