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Senate File 2306

Partial Bill History

Bill Text

PAG LIN
  1  1                                           SENATE FILE 2306
  1  2 
  1  3                             AN ACT
  1  4 RELATING TO CIVIL ACTION APPEAL BONDS AND INCLUDING MONETARY
  1  5    LIMITS, AND INCLUDING AN EFFECTIVE AND APPLICABILITY DATE
  1  6    PROVISION.
  1  7 
  1  8 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  1  9 
  1 10    Section 1.  Section 625A.9, subsection 2, Code Supplement
  1 11 2003, is amended to read as follows:
  1 12    2.  a.  If Except as provided in paragraph "b", if the
  1 13 judgment or order appealed from is for money, such bond shall
  1 14 not exceed one hundred ten percent of the amount of the money
  1 15 judgment.
  1 16    The court may set a bond in an amount in excess of one
  1 17 hundred ten percent of the amount of the money judgment upon
  1 18 making specific findings justifying such an amount, and in
  1 19 doing so, shall consider, but shall not be limited to
  1 20 consideration of, the following criteria:
  1 21    (1)  The availability and cost of the bond or other form of
  1 22 adequate security.
  1 23    (2)  The assets of the judgment debtor and of the judgment
  1 24 debtor's insurer or indemnitor, if any.
  1 25    (3)  The potential adverse effects of the bond on the
  1 26 judgment debtor, including, but not limited to, the potential
  1 27 adverse effects on the judgment debtor's employees, financial
  1 28 stability, and business operations.
  1 29    (4)  The potential adverse effects of the bond on the
  1 30 judgment creditor and third parties, including public
  1 31 entities.
  1 32    (5)  In a class action suit, the adequacy of the bond to
  1 33 compensate all members of the class.
  1 34    b.  Notwithstanding paragraph "a", in no case shall a bond
  1 35 exceed one hundred million dollars, regardless of the value of
  2  1 the money judgment.  This limitation shall not apply in cases
  2  2 where the court finds that the defendant intentionally
  2  3 dissipated the defendant's assets outside the ordinary course
  2  4 of business for the purpose of evading payment of the
  2  5 judgment.
  2  6    Sec. 2.  EFFECTIVE AND APPLICABILITY DATES.  This Act,
  2  7 being deemed of immediate importance, takes effect upon
  2  8 enactment and applies to cases pending and filed on or after
  2  9 the effective date of this Act.  
  2 10 
  2 11 
  2 12                                                             
  2 13                               JEFFREY M. LAMBERTI
  2 14                               President of the Senate
  2 15 
  2 16 
  2 17                                                             
  2 18                               CHRISTOPHER C. RANTS
  2 19                               Speaker of the House
  2 20 
  2 21    I hereby certify that this bill originated in the Senate and
  2 22 is known as Senate File 2306, Eightieth General Assembly.
  2 23 
  2 24 
  2 25                                                             
  2 26                               MICHAEL E. MARSHALL
  2 27                               Secretary of the Senate
  2 28 Approved                , 2004
  2 29 
  2 30 
  2 31                                
  2 32 THOMAS J. VILSACK
  2 33 Governor
     
Text: SF02305                           Text: SF02307
Text: SF02300 - SF02399                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index

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