2005 Nevada Revised Statutes - Chapter 20 — Bonds and Undertakings; Deposits in Lieu Thereof

CHAPTER 20 - BONDS AND UNDERTAKINGS;DEPOSITS IN LIEU THEREOF

NRS 20.010 Undertakingwith sureties; affidavits.

NRS 20.015 Formof undertaking.

NRS 20.020 Justificationof sureties.

NRS 20.030 Suretybond or cash may be furnished in lieu of personal sureties.

NRS 20.035 Limitationon amount of bond in litigation involving Master Settlement Agreement.

NRS 20.040 Undertaking,bond or security not required in action by or against State, county, city orofficer thereof.

NRS 20.050 Bondor undertaking to be approved by clerk of court.

_________

NRS 20.010 Undertakingwith sureties; affidavits.

1. In all cases where an undertaking with sureties isrequired by the provisions of titles 2 to 6 of NRS, the judge, justice, orclerk, or other officer taking the same, shall, unless it is otherwise providedin NRS, require the sureties to accompany the same with an affidavit that theyare each worth the sum specified in the undertaking, over and above all theirjust debts and liabilities, exclusive of property exempt from execution.

2. When the amount specified in an undertaking exceeds$3,000, and there are more than two sureties thereon, they may state in theiraffidavits that they are severally worth amounts less than that expressed inthe undertaking, if the whole amount be equivalent to that of two sufficientsureties.

[1911 CPA 542; RL 5484; NCL 9031]

NRS 20.015 Formof undertaking. Whenever a party to an actionor proceeding desires to give an undertaking pursuant to any provision oftitles 2 to 6 of NRS, it is sufficient if the sureties sign an undertakingindicating that they are bound to the obligations imposed by the statute underwhich the undertaking is given. Such undertaking may be in substantially thefollowing form:

UNDERTAKING

State of Nevada }

}ss.

County of............................................. }

In the ............................... court................................ (state title of the action). Whereas theabove-named ................................ desires to give an undertaking for................................ (state purpose) as provided by NRS................ Now, therefore, we the undersigned sureties, do herebyobligate ourselves, jointly and severally to ................................(name the obligee) under the provisions of NRS ................ in the sum of$............. Dated this ............. day of the month of ........ of theyear .

...............................................................................

(Signatureof Principal)

...............................................................................

...............................................................................

(Signatureof Sureties)

(Added to NRS by 1975, 1015; A 2001, 18)

NRS 20.020 Justificationof sureties. In all cases not otherwiseprovided for in titles 2 to 6 of NRS, where sureties are required to justify,they shall appear before the officer or person authorized to take thejustification, and may be examined under oath by such officer or person and theadverse party, touching their qualifications as sureties, which examinationshall be reduced to writing and subscribed by the sureties if required. If,upon such examination, it shall appear to such officer or person that thesureties, or either of them, have the necessary qualifications of such, heshall so endorse upon the statement, and cause the same to be filed, andthereupon the justification shall be complete.

[1911 CPA 543; RL 5485; NCL 9032]

NRS 20.030 Suretybond or cash may be furnished in lieu of personal sureties. In all cases where a bond or undertaking is required bythe provisions of titles 2 to 6 of NRS, the party required to give such bond orundertaking may furnish such bond or undertaking with a surety or bondingcompany, authorized to do business under the laws of this state and to furnishsuch bonds or undertakings, to be approved by the court, judge, clerk, ordeputy clerk, in lieu of personal sureties. A party may, also, in lieu of abond or undertaking required by titles 2 to 6 of NRS, deposit with the court,or clerk thereof, cash in the amount of the bond or undertaking required.

[1911 CPA 544; A 1927, 80; NCL 9033]

NRS 20.035 Limitationon amount of bond in litigation involving Master Settlement Agreement.

1. Except as otherwise provided in subsection 2, if anappeal is taken of a judgment in a civil action involving a signatory, or asuccessor in interest or affiliate of a signatory, of the Master SettlementAgreement in which an appellant is required to give a bond in order to secure astay of execution of the judgment during the pendency of any or all suchappeals, the total cumulative sum of all the bonds required from all theappellants involved in the civil action must not exceed $50,000,000.

2. If the plaintiff proves by a preponderance ofevidence that an appellant who posted a bond pursuant to subsection 1 ispurposefully dissipating or diverting assets outside of the ordinary course ofits business to evade the ultimate payment of the judgment, the court may, ifit determines that such an order is necessary to prevent such dissipation ordiversion, require the appellant to post a bond in an amount that does notexceed the full amount of the judgment.

3. The provisions of this section do not limit thediscretion of a court, for good cause shown, to set the bond on appeal in anamount less than the amount otherwise required by law.

4. For the purposes of this section:

(a) Affiliate has the meaning ascribed to it in NRS 370A.030.

(b) Master Settlement Agreement has the meaningascribed to it in NRS 370A.070.

(Added to NRS by 2001, 1007; A 2005, 476)

NRS 20.040 Undertaking,bond or security not required in action by or against State, county, city orofficer thereof.

1. In any action or proceeding before any court orother tribunal in this State, wherein the State of Nevada or any county, cityor town of this State, or any officer thereof in his official capacity, is aparty plaintiff or defendant, no bond, undertaking or security shall berequired of the State, county, city or town, or such officer in his officialcapacity, but on complying with the other provisions of law the State, county,city or town, or officer thereof, acting as aforesaid, shall have the samerights, remedies and benefits as though such bond, undertaking or security weregiven and approved as required by law.

2. The provisions of this section shall only applywhere such action or proceeding is prosecuted or defended in the name of theState, county, city, town or officer thereof for the public benefit, and shallnot be applicable where such action or proceeding is so prosecuted or defendedfor the benefit of a private individual or for the enforcement or protection ofa private right.

[1911 CPA 545; RL 5487; NCL 9034]

NRS 20.050 Bondor undertaking to be approved by clerk of court.

1. In all cases where a bond or other undertaking,except a bail bond, is required by the provisions of titles 2 to 5, inclusive,of NRS or in any civil action arising under any other title of NRS or by theNevada Rules of Civil Procedure or Nevada Rules of Appellate Procedure, thebond or undertaking shall be presented to the clerk of the court in which theaction or proceeding is pending, for his approval, before being filed ordeposited.

2. The clerk of the court may refuse approval of asurety for any bond or other undertaking if a power of attorney-in-fact whichcovers the agent whose signature appears on the bond or other undertaking isnot on file with the clerk of the court.

(Added to NRS by 1973, 385; A 1975, 1197)