Advisory Committee Notes
The 1995 amendments to this rule eliminated references to writs of mandate and prohibition in Subdivision (g) since the extraordinary relief procedure of Rule 65B has eliminated the concept of the "writ." Subdivision (i) was substantially rewritten to define the requirements for both commercial and personal supersedeas bonds and to allow the court to permit a cash deposit or other form of security in lieu of a supersedeas bond. The committee concluded that individual circumstances will determine the degree to which a particular form of security may be affected by bankruptcy, financial instability or other uncertainty, and that the court should be given broad discretion to permit such forms of security as the facts may require. Subdivision (j) was amended to allow a party whose judgment is stayed to object to the amount or sufficiency of the security. The rule does not specify a time within which a party must object to security; thus a party may respond appropriately to changing circumstances affecting the sufficiency or form of security originally approved by the court.
2005 Amendment. In considering conditions for setting a bond of less than the presumed amount under paragraph (j)(1), the judge's objective is to protect both a judgment creditor's interest in collecting a judgment affirmed on appeal and to afford a judgment debtor a reasonable opportunity to prosecute an appeal without unduly and unnecessarily affecting the judgment debtor's operations. Among the options the judge might consider are to:
(1) require periodic financial reports;
(2) appoint a receiver or master;
(3) require the debtor to abstract the judgment to all jurisdictions in which the debtor has significant assets;
(4) require the debtor's corporate officers to personally acknowledge receiving the judgment and to consent to personal jurisdiction for the purpose of enforcing the judgment;
(5) limit loans other than in the ordinary course of business;
(6) limit transfer or disposition of assets other than in the ordinary course of business; and
(7) limit payment of dividends.