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454.060 Provisions concerning bond required before injunction granted.
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(2)
(3)
(4)
If an injunction be granted to stay proceedings upon a levy made under an
execution, and the party applying for the injunction desire to discharge the levy,
he shall execute a bond to the effect that he will satisfy the execution to the
extent to which the injunction may be dissolved, not exceeding the value of the
property released; and upon the execution of such bond, and the issuing of the
injunction, the levy shall be discharged. If he does not desire to release the
levy, he may execute a bond to the effect that, upon a dissolution of the
injunction, in whole or in part, he will have the property, or its value,
forthcoming and subject to the order of the court; and, upon the execution of
such bond, and the issuing of the injunction, the property levied on shall be
delivered to him.
If such injunction extends further than the stay of proceedings upon the levy,
the party shall give such additional bond as the court, judge or officer granting
the injunction may direct.
In all other cases, the court, judge or officer granting the injunction shall, in the
order granting it, fix the amount of the bond to be given, and may prescribe its
terms. If the terms of the bond be not so prescribed, it shall be to the effect that
the party giving it will pay to the party enjoined such damages as he may
sustain, if it be finally decided that the injunction ought not to have been
granted.
If the injunction be to stay proceedings upon a judgment, the amount of the
bond shall be sufficient to cover, with other damages, the sum of money for
which judgment was rendered, with five (5) years' interest thereon, and the
rent, hire or value of the use, for two (2) years, of property for which judgment
was given; and, in case of personal property, its value also.
Effective:July 15, 1980
History: Amended 1980 Ky. Acts ch. 188, sec. 304, effective July 15, 1980. -Transferred 1952 Ky. Acts ch. 84, sec. 1, effective July 1, 1953, from C.C.
sec. 278.
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