[§328L-7] Limitation on bond requirements in litigation involving master settlement agreement signatories, successors, and affiliates.
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/hi/328l-7A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§328L-7] Limitation on bond requirements in litigation involving master settlement agreement signatories, successors, and affiliates.
(a)In civil litigation under any legal theory involving a signatory, a successor of a signatory, or an affiliate of a signatory to the tobacco master settlement agreement, the supersedeas bond to be furnished to stay the execution of the judgment during the entire course of appellate review shall be set in accordance with applicable laws or court rules, except that the total bond that is required of all appellants collectively shall not exceed $150,000,000, regardless of the amount of the judgment.
(b)Notwithstanding subsection (a), if an appellee proves by a preponderance of the evidence that an appellant is dissipating assets outside the ordinary course of business to avoid the payment of a judgment, a court may require the appellant to post a bond in an amount up to the full amount of the judgment. [L 2004, c 157, §8]