| 1 | A bill to be entitled |
| 2 | An act relating to supersedeas bond; creating s. 45.045, |
| 3 | F.S.; limiting the amount of supersedeas bond required for |
| 4 | certain appellants; providing that a party may move the |
| 5 | court to reduce the supersedeas bond; providing an |
| 6 | exception to limits if an appellant engages in certain |
| 7 | conduct for the purpose of avoiding payment of the |
| 8 | judgment; providing applicability; providing an effective |
| 9 | date. |
| 10 |
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| 11 | Be It Enacted by the Legislature of the State of Florida: |
| 12 |
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| 13 | Section 1. Section 45.045, Florida Statutes, is created to |
| 14 | read: |
| 15 | 45.045 Limitations on supersedeas bond; exception.-- |
| 16 | (1) Except for certified class actions subject to s. |
| 17 | 768.733, in any civil action brought under any legal theory, the |
| 18 | amount of a supersedeas bond necessary to obtain an automatic |
| 19 | stay of execution of a judgment granting any type of relief |
| 20 | during the entire course of all appeals or discretionary |
| 21 | reviews, may not exceed $50 million for each appellant, |
| 22 | regardless of the amount of the judgment appealed. The $50 |
| 23 | million amount shall be adjusted annually to reflect changes in |
| 24 | the Consumer Price Index compiled by the United States |
| 25 | Department of Labor. |
| 26 | (2) In any civil action brought under any legal theory, a |
| 27 | party seeking a stay of execution of a judgment pending review |
| 28 | of any amount may move the court to reduce the amount of a |
| 29 | supersedeas bond required to obtain such a stay. The court, in |
| 30 | the interest of justice and for good cause shown, may reduce the |
| 31 | supersedeas bond or may set other conditions for the stay with |
| 32 | or without a bond. The court may not reduce the supersedeas bond |
| 33 | if the appellant has an insurance or indemnification policy |
| 34 | applicable to the case. This subsection does not apply to |
| 35 | certified class actions subject to s. 768.733. |
| 36 | (3) If an appellant has posted a supersedeas bond for an |
| 37 | amount less than that which would be required for an automatic |
| 38 | stay pursuant to Rule 9.310(b)(1), Florida Rules of Appellate |
| 39 | Procedure, the appellee may engage in discovery for the limited |
| 40 | purpose of determining whether the appellant has dissipated or |
| 41 | diverted assets outside the course of its ordinary business or |
| 42 | is in the process of doing so. |
| 43 | (4) If the trial or appellate court determines that an |
| 44 | appellant has dissipated or diverted assets outside the course |
| 45 | of its ordinary business or is in the process of doing so, the |
| 46 | court may enter orders necessary to protect the appellee, |
| 47 | require the appellant to post a supersedeas bond in an amount up |
| 48 | to, but not more than, the amount that would be required for an |
| 49 | automatic stay pursuant to Rule 9.310(b)(1), Florida Rules of |
| 50 | Appellate Procedure, and impose other remedies and sanctions as |
| 51 | the court deems appropriate. |
| 52 | Section 2. This act shall take effect July 1, 2006, and |
| 53 | shall apply to judgments rendered on or after that date. |