31A-27a-109. Statutes of limitations.
(1) If applicable law, an order, or an agreement fixes a period within which the insurer
may commence an action, and this period is not expired before the day on which the initial
petition in a delinquency proceeding is filed, the receiver may not by reason of the filing of the
initial petition in a delinquency proceeding be barred from commencing the action if the receiver
commences the action on or before the later of:
(a) the end of the period, including any suspension of the period occurring on or after the
day on which the initial petition in a delinquency proceeding is filed; or
(b) six years after the day on which the most recent receivership order is entered.
(2) (a) Except as provided in Subsection (1), if applicable law, an order, or an agreement
fixes a period within which the insurer may do an act described in Subsection (2)(b) and the
period described in this Subsection (2)(a) is not expired before the date on which the initial
petition in a delinquency proceeding is filed, the receiver may not by reason of the filing of the
petition initiating a formal delinquency proceeding be barred from taking the act if the receiver
does the act on or before the later of:
(i) the end of the period, including any suspension of the period occurring on or after the
day on which the initial petition in a delinquency proceeding is filed; or
(ii) 60 days after the day on which the most recent receivership order is entered.
(b) This Subsection (2) applies to:
(i) filing, curing, or performing:
(A) a pleading;
(B) a demand;
(C) a notice; or
(D) a proof of claim or loss;
(ii) curing a default in a case or proceeding; or
(iii) performing any act similar to one described in Subsection (2)(b)(i) or (ii).
(3) If applicable law, an order, or an agreement fixes a period for commencing or
continuing a civil action in a court other than the receivership court on a claim against the
insurer, and the period has not expired before the day on which the initial petition in a
delinquency proceeding is filed, the period does not expire until the later of:
(a) the end of the period, including any suspension of the period occurring on or after the
day on which the initial petition in a delinquency proceeding is filed; or
(b) 30 days after the day on which the stay pursuant to this section with respect to the
claim is terminated or expires.
Enacted by Chapter 309, 2007 General Session
Download Code Section Zipped WordPerfect 31A27a010900.ZIP 2,466 Bytes
Sections in this Chapter|Chapters in this Title|All Titles|Legislative Home Page
Last revised: Thursday, May 28, 2009