2011 Kentucky Revised Statutes CHAPTER 411 RIGHTS OF ACTION AND SURVIVAL OF ACTIONS 411.187 Supersedeas bond for punitive damages on appeal -- Limit -- Rescission of limit if assets diverted or dissipated.
KY Rev Stat § 411.187 (1996 through Reg Sess) What's This?
411.187 Supersedeas bond for punitive damages on appeal -- Limit -- Rescission of
limit if assets diverted or dissipated.
(1)
(2)
In any civil action brought under any legal theory, the amount of a supersedeas bond
necessary to stay execution of a judgment granting legal, equitable, or any other
relief during the entire course of all appeals or discretionary reviews of the
judgment by all appellate courts shall be set in accordance with applicable law,
except that the total amount of the supersedeas bonds that are required collectively
of all appellants during the appeal of a civil action may not exceed one hundred
million dollars (0,000,000) in the aggregate, regardless of the amount of the
judgment that is appealed.
If the appellee proves by a preponderance of the evidence that a party bringing an
appeal, for whom the supersedeas bond requirement has been limited, is
purposefully dissipating or diverting assets outside of the ordinary course of its
business for the purpose of avoiding ultimate payment of the judgment, the
limitation granted under subsection (1) of this section shall be rescinded and a court
may require the appellant to post a bond in an amount up to the full amount of the
judgment pursuant to the Kentucky Rules of Civil Procedure.
Effective: June 26, 2007
History: Amended 2007 Ky. Acts ch. 111, sec. 1, effective June 26, 2007. -- Created
2000 Ky. Acts ch. 205, sec. 1, effective March 29, 2000.
Legislative Research Commission Note (6/26/2007). 2007 Ky. Acts ch. 111, sec. 2,
provides that "Section 1 of this Act (this section) shall apply to all civil actions
pending on the effective date of this Act (June 26, 2007)."
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