Senate Bill sb2826

    Florida Senate - 2003                                  SB 2826

    By Senator Haridopolos





    26-2199-03

  1                      A bill to be entitled

  2         An act relating to the tobacco settlement

  3         agreement; creating s. 569.23, F.S.; limiting

  4         the amount of appeal bond that may be ordered;

  5         providing an exception; providing an effective

  6         date.

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  8  Be It Enacted by the Legislature of the State of Florida:

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10         Section 1.  Section 569.23, Florida Statutes, is

11  created to read:

12         569.23  Bond requirements for tobacco settlement

13  agreement signatories, successors, and affiliates.--

14         (1)  In any civil action involving a signatory or

15  successor or an affiliate of a signatory to the tobacco

16  settlement agreement, as defined in s. 215.56005(1)(f), the

17  appeal bond to be furnished during the pendency of all appeals

18  or discretionary appellate reviews of any judgment in such

19  litigation shall be set pursuant to applicable laws or court

20  rules, except that the total bond for all defendants may not

21  exceed $100 million, regardless of the total value of the

22  judgment.

23         (2)  Notwithstanding subsection (1), if, after notice

24  and hearing, a plaintiff proves by a preponderance of the

25  evidence that a defendant who posted such bond or equivalent

26  surety is purposefully dissipating assets outside the ordinary

27  course of business to avoid payment of the judgment, the court

28  may enter necessary orders to protect the plaintiff, including

29  an order that the bond or equivalent surety be posted in an

30  amount up to the full amount of the judgment.

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    Florida Senate - 2003                                  SB 2826
    26-2199-03




 1         Section 2.  This act shall take effect July 1, 2003,

 2  and shall apply to all cases pending or filed on or after that

 3  date.

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 6                          SENATE SUMMARY

 7    Limits the amount of appeal bond that may be ordered in
      the tobacco settlement agreement. Provides an exception.
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CODING: Words stricken are deletions; words underlined are additions.