§ 38.2-1714 Stay of proceedings; reopening default judgments
All proceedings in which the insolvent member insurer is a party in any court in this Commonwealth shall be stayed 180 days from the date an order of liquidation, rehabilitation, or conservation is final to permit proper legal action by the Association on all matters germane to its powers and duties. The Association may apply to have the judgment under any decision, order, verdict, or finding based on default set aside by the same court that made the judgment and shall be permitted to defend against the suit on the merits.
History
This law was first created in 1976. The record of its establishment is cataloged in chapter 330 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1976 “Acts” aren’t available online. It has been modified 3 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1986, chapter 562; in 2010, chapter 510; in 2018, chapter 706.
1976, c. 330, § 38.1-482.32; 1986, c. 562; 2010, c. 510; 2018, c. 706.