20-649. Extension of time

A. Except as provided in subsection D, if any law, rule, order or agreement fixes a period of time within which the insurer subject to a delinquency proceeding or the receiver may commence an action, and that period is enforceable and has not expired before the date of the commencement of the delinquency proceeding under this title, the receiver may commence the action before any of the following, whichever is later:

1. The end of the period, including any suspension of the period occurring on or after commencement of the delinquency proceeding under this title.

2. Five years after the entry of the order appointing the receiver.

3. A date set by the court that in no event is more than eight years after the entry of the order appointing the receiver.

B. Except as provided in subsection A or D, if any law, rule, order or agreement fixes a period of time within which the insurer subject to a delinquency proceeding or the receiver may file any pleading, motion, demand, notice or proof of claim or loss, may cure a default or may perform any other similar act and that period is enforceable and has not expired before the commencement of the delinquency proceeding, the receiver may file, cure or perform before either of the following, whichever is later:

1. The end of the period, including any suspension of the period occurring on or after the commencement of the delinquency proceeding under this title.

2. One hundred twenty days after the entry of the order appointing the receiver.

C. Except as provided in subsection D, if any law, rule, order or agreement fixes a period for commencing or continuing a civil action in any court on a claim against the insurer in receivership, and that period has not expired before the date of the commencement of the delinquency proceeding, the court may extend that period to permit the filing of a claim with the receiver pursuant to this article.

D. The extension of time provided under this section does not apply to any other time period imposed by this chapter, an agreement executed by the receiver and approved by the court or an order of the court.