Idaho State Statutes - Idaho Attorney Directory

(1) Upon issuance of an order
appointing a liquidator of a domestic insurer or of an alien insurer domiciled
in this state, no action at law or equity shall be brought against the insurer
or liquidator, whether in this state or elsewhere, nor shall any such existing
actions be maintained or further presented after issuance of such order. The
courts of this state shall give full faith and credit to injunctions against
the liquidator or the company or the continuation of existing actions against
the liquidator or the company, when such injunctions are included in an order
to liquidate an insurer issued pursuant to corresponding provisions in other
states. Whenever in the liquidator's judgment, protection of the estate of the
insurer necessitates intervention in an action against the insurer that is
pending outside this state, he may intervene in the action. The liquidator may
defend any action in which he intervenes under the provisions of this section
at the expense of the estate of the insurer.
(2) The liquidator may, upon or after an order for liquidation, within
two (2) years or such time in addition to two (2) years as applicable law may
permit, institute an action or proceeding on behalf of the estate of the
insurer upon any cause of action against which the period of limitation fixed
by applicable law has not expired at the time of the filing of the petition
upon which such order is entered. Where, by any agreement, a period of
limitation is fixed for instituting a suit or proceeding upon any claim, or
for filing any claim, proof of claim, proof of loss, demand, notice, or the
like, or where in any proceeding, judicial or otherwise, a period of
limitation is fixed, either in the proceeding or by applicable law, for taking
any action, filing any claim or pleading, or doing any act, and where in any
such case the period had not expired at the date of the filing of the
petition, the liquidator may, for the benefit of the estate, take any such
action or do any such act, required of or permitted to the insurer, within a
period of one hundred eighty (180) days subsequent to the entry of an order
for liquidation, or within such further period as is shown to the satisfaction
of the court not to be unfairly prejudicial to the other party.
(3) No statute of limitations or defense of laches shall run with respect
to any action against an insurer between the filing of a petition for
liquidation against an insurer and the denial of the petition. Any action
against the insurer that might have been commenced when the petition was filed
may be commenced for at least sixty (60) days after the petition is denied.
(4) Any guaranty association or foreign guaranty association shall have
standing to appear in any court proceeding concerning the liquidation of an
insurer if such association is or may become liable to act as a result of the
liquidation.

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