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*284 MEMORANDUM *

The National Organization of Life and Health Insurance Guaranty Associations and the California Health Insurance Guarantee Association (“NOLHGA”) appeal the district court’s denial of a motion to intervene as of right pursuant to Federal Rule of Civil Procedure 24(a). We reverse and remand. Because the facts are familiar to the parties, we recount them only as necessary to explain our decision.

To intervene under Rule 24(a), NOLHGA must show that: (1) the application is timely; (2) it has a “significantly protectable” interest relating to the property or transaction that is the subject of the action; (3) the disposition may, as a practical matter, impair or impede its ability to protect that interest; and (4) its interest may not be adequately represented by the parties before the court. Southwest Center for Biological Diversity v. Berg, 268 F.3d 810 , 817-18 (9th Cir.2001) (citing Northwest Forest Resource Council v. Glickman, 82 F.3d 825, 836 (9th Cir. 1996)).

1. The district court erred in finding NOLHGA’s application untimely. It mistakenly looked to the date when NOLHGA became aware of the fraud, rather than to the date when NOLHGA knew or should have…