Surety Bond Blog » appeal bond

Arizona Appeal Bond Revision

Eric Weisbrot — Sat, 07 May 2011 18:03:02 +0000

Arizona State legislators recently made modifications to the state’s court bond requirements; specifically concerning appeal bonds. The new bill is named SB 1212 and modifies the cap on an appeal bond that’s required to stay the execution of a judgment in civil actions. The previous legislation required a surety bond equivalent to the full quantity of the judgment including charges, interest and any damages relating to the appeal. SB 1212 requires the bond to be equal the total quantity of damages awarded excluding punitive damages, $25 million or 50% of the appellant’s net worth, whichever is less.

Florida Appeal Bond

Eric Weisbrot — Sat, 20 Feb 2010 16:09:13 +0000

Florida state added a new bill concerning a cap on appeal bonds. The new bill, titled SB 2198, modifies the present cap on appeal bonds for civil actions filed in relation to the state’s tobacco settlement agreement. The present law caps the appeal bonds at $100 million for appeals or discretionary appellate reviews for all defendants. SB 2198 requires the surety bond to cover any reviews that the U.S. Supreme Court performed. The cap pertains to the collective value of all appeal bonds for the appeals process. Additionally, the surety bond covers “all appellants” as oppose to “all defendants.” In regards to civil actions in the trial court that were caused by or on behalf of individuals claiming or determined to have been members of a previous class action that was decertified, SB 2198 supplies a schedule for the quantity of security required for all appellants who cooperatively look for a single judgment. The schedule is below:

Number of Judgments Amount per Judgment Total Amount
1 – 40 $5,000,000 $200,000,000
41 – 80 $2,500,000 $200,000,000
81 – 100 $2,000,000 $200,000,000
101 – 150 $1,333,333 $199,999,950
151 – 200 $1,000,000 $200,000,000
201 – 300 $666,667 $200,000,100
301 – 500 $400,000 $200,000,000
501 – 1,000 $200,000 $200,000,000
1,001 – 2,000 $100,000 $200,000,000
2,001 – 3,000 $66,667 $200,001,000

In most of these cases, the cap is established at $200 million, or an estimate thereof, and the quantity is separated between the amount of appellants. The surety bond must be in the lesser amount of the judgment quantity or this cap.

For cases with numerous defendants, appellants are required to acquire individual appeal bonds in proportion to the “percent or amount of liability specifically allocated against that appellant in the judgment, or, if liability is not specifically allocated in the judgment, for a share of the unallocated portion of the judgment determined by dividing the unallocated portion of the judgment equal among all defendants against whom the judgment is entered.”

Indiana Appeal Bond Requirement

Eric Weisbrot — Thu, 17 Dec 2009 16:40:53 +0000

The state of Indiana implemented a new law titled SB 307 which is concerning appeal bond requirements. The new law demands an appeal bond in the amount of $500 in case of a business licensed through the Bureau of Motor Vehicles desires to appeal the ultimate decision of the Secretary of State in court regarding license applications, licenses, civil penalties and other various investigations. SB 307 was enacted on March 21st, 2008.