Stay of other actions--liquidator may bring certain actions,when.
375.1188. 1. Upon issuance of an order appointing aliquidator of a domestic insurer or of an alien insurer domiciledin this state, no action at law or equity or in arbitration shallbe brought against the insurer or liquidator, whether in thisstate or elsewhere, nor shall any such existing actions bemaintained or further presented after issuance of such order.The courts of this state shall give full faith and credit toinjunctions against the liquidator or the company or thecontinuation of existing actions against the liquidator or thecompany, when such injunctions are included in an order toliquidate an insurer issued pursuant to corresponding provisionsin other states. Whenever, in the liquidator's judgment,protection of the estate of the insurer necessitates interventionin an action against the insurer that is pending outside thisstate, he may intervene in the action. The liquidator may defendany action in which he intervenes pursuant to this section at theexpense of the estate of the insurer.
2. The liquidator may, upon or after an order forliquidation, within ten years or such other longer time asapplicable law may permit, institute an action or proceeding onbehalf of the estate of the insurer upon any cause of actionagainst which a period of limitation fixed by applicable law hasnot expired at the time of the filing of the petition upon whichsuch order is entered. Where, by any agreement, a period oflimitation is fixed for instituting a suit or proceeding upon anyclaim, or for filing any claims, proof of claim, proof of loss,demand, notice, or the like, or where in any proceeding, judicialor otherwise, a period of limitation is fixed, either in theproceeding or by applicable law, for taking any action, filingany claim or pleading, or doing any act, and where in any suchcase the period had not expired at the date of the filing of thepetition, the expiration of such periods shall be stayed and theliquidator may, for the benefit of the estate, take any suchaction or do any such act, required of or permitted to theinsurer, within a period of ten years subsequent to the entry ofan order for liquidation, or within such further period as isshown to the satisfaction of the court not to be unfairlyprejudicial to the other party.
3. No statute of limitation or defense of laches shall runwith respect to any action against an insurer between the filingof a petition for liquidation against an insurer and the denialof the petition. Any action against the insurer that might havebeen commenced when the petition was filed may be commenced forat least sixty days after the petition is denied.
Stay of other actions--liquidator may bring certain actions,when.
375.1188. 1. Upon issuance of an order appointing aliquidator of a domestic insurer or of an alien insurer domiciledin this state, no action at law or equity or in arbitration shallbe brought against the insurer or liquidator, whether in thisstate or elsewhere, nor shall any such existing actions bemaintained or further presented after issuance of such order.The courts of this state shall give full faith and credit toinjunctions against the liquidator or the company or thecontinuation of existing actions against the liquidator or thecompany, when such injunctions are included in an order toliquidate an insurer issued pursuant to corresponding provisionsin other states. Whenever, in the liquidator's judgment,protection of the estate of the insurer necessitates interventionin an action against the insurer that is pending outside thisstate, he may intervene in the action. The liquidator may defendany action in which he intervenes pursuant to this section at theexpense of the estate of the insurer.
2. The liquidator may, upon or after an order forliquidation, within ten years or such other longer time asapplicable law may permit, institute an action or proceeding onbehalf of the estate of the insurer upon any cause of actionagainst which a period of limitation fixed by applicable law hasnot expired at the time of the filing of the petition upon whichsuch order is entered. Where, by any agreement, a period oflimitation is fixed for instituting a suit or proceeding upon anyclaim, or for filing any claims, proof of claim, proof of loss,demand, notice, or the like, or where in any proceeding, judicialor otherwise, a period of limitation is fixed, either in theproceeding or by applicable law, for taking any action, filingany claim or pleading, or doing any act, and where in any suchcase the period had not expired at the date of the filing of thepetition, the expiration of such periods shall be stayed and theliquidator may, for the benefit of the estate, take any suchaction or do any such act, required of or permitted to theinsurer, within a period of ten years subsequent to the entry ofan order for liquidation, or within such further period as isshown to the satisfaction of the court not to be unfairlyprejudicial to the other party.
3. No statute of limitation or defense of laches shall runwith respect to any action against an insurer between the filingof a petition for liquidation against an insurer and the denialof the petition. Any action against the insurer that might havebeen commenced when the petition was filed may be commenced forat least sixty days after the petition is denied.
Stay of other actions--liquidator may bring certain actions,when.
375.1188. 1. Upon issuance of an order appointing aliquidator of a domestic insurer or of an alien insurer domiciledin this state, no action at law or equity or in arbitration shallbe brought against the insurer or liquidator, whether in thisstate or elsewhere, nor shall any such existing actions bemaintained or further presented after issuance of such order.The courts of this state shall give full faith and credit toinjunctions against the liquidator or the company or thecontinuation of existing actions against the liquidator or thecompany, when such injunctions are included in an order toliquidate an insurer issued pursuant to corresponding provisionsin other states. Whenever, in the liquidator's judgment,protection of the estate of the insurer necessitates interventionin an action against the insurer that is pending outside thisstate, he may intervene in the action. The liquidator may defendany action in which he intervenes pursuant to this section at theexpense of the estate of the insurer.
2. The liquidator may, upon or after an order forliquidation, within ten years or such other longer time asapplicable law may permit, institute an action or proceeding onbehalf of the estate of the insurer upon any cause of actionagainst which a period of limitation fixed by applicable law hasnot expired at the time of the filing of the petition upon whichsuch order is entered. Where, by any agreement, a period oflimitation is fixed for instituting a suit or proceeding upon anyclaim, or for filing any claims, proof of claim, proof of loss,demand, notice, or the like, or where in any proceeding, judicialor otherwise, a period of limitation is fixed, either in theproceeding or by applicable law, for taking any action, filingany claim or pleading, or doing any act, and where in any suchcase the period had not expired at the date of the filing of thepetition, the expiration of such periods shall be stayed and theliquidator may, for the benefit of the estate, take any suchaction or do any such act, required of or permitted to theinsurer, within a period of ten years subsequent to the entry ofan order for liquidation, or within such further period as isshown to the satisfaction of the court not to be unfairlyprejudicial to the other party.
3. No statute of limitation or defense of laches shall runwith respect to any action against an insurer between the filingof a petition for liquidation against an insurer and the denialof the petition. Any action against the insurer that might havebeen commenced when the petition was filed may be commenced forat least sixty days after the petition is denied.
