Arizona Appeal Bonds

Category: Uncategorized
Published: Jul 13, 2011
SB 1212: Caps on Appeal Bonds

This would cap the appeal bond required to stay the execution of a judgment in any civil action. Under current law a bond is required to equal to the full amount of the judgment plus costs, interest and any damages related to the pending appeal. This bill will provide that the bond would have to be posted for the lesser of the following amounts: the total amount of damages awarded excluding punitive damages, $25 million or fifty percent of the appellant’s net worth. A large bond amount could infringe on the due process rights of appellants because of the fact that they might not be able to post a bond for the full amount. In these instances appellants could be forced into bankruptcy or to settle their case. This lower bond amount requirement would allow for defendants to appeal a decision without such concerns, according to the findings.

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Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.

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