Electrical Panel Remodeling
Looks like someone has installed a larger
electrical panel and an older home. The stucco has not been repaired yet
and will need to be as soon as possible to eliminate moisture from
entering the interior.
If the new electrical panel was installed without a building permit it would be a good idea to contact your local building department for further instructions on how to handle this situation.
You can always hire an electrician to verify the installation of the electrical panel has been done properly. This does not eliminate the need for a building permit though, electricity is nothing to mess around with and if installed improperly will create a safety hazard.
There has been no building paper installed underneath the electrical panel and this will have to be done when the building is lathed before applying the stucco. The electrical panel will need to be watertight and it would be a good idea after the lathing has been applied to use a good caulking to seal the electrical panel to the building paper.