Bill Text: IL SB1888 | 2009-2010 | 96th General Assembly | Introduced

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Bill Title: Amends the Code of Civil Procedure by adding a new Section. Provides that in civil litigation under any legal theory, execution of the judgment shall be stayed during appellate review upon the posting of a supersedeas bond set in accordance with law or court rules, except that the total supersedeas bond that is required of all appellants collectively shall not exceed $75,000,000, regardless of the judgment amount. Provides that if an appellee proves that an appellant is dissipating assets outside the ordinary course of business to avoid payment of a judgment, a court may require the appellant to post a supersedeas bond in an amount up to the total judgment amount. Effective immediately.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2010-06-27 - Senate Floor Amendment No. 2 Re-referred to Assignments; Pursuant to Senate Rule 3-9(b). [SB1888 Detail]

Download: Illinois-2009-SB1888-Introduced.html

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96TH GENERAL ASSEMBLY State of Illinois 2009 and 2010 SB1888 Introduced 2/20/2009, by Sen. Don Harmon SYNOPSIS AS INTRODUCED:
735 ILCS 5/2-1306 new
Amends the Code of Civil Procedure by adding a new Section. Provides that in civil litigation under any legal theory, execution of the judgment shall be stayed during appellate review upon the posting of a supersedeas bond set in accordance with law or court rules, except that the total supersedeas bond that is required of all appellants collectively shall not exceed $75,000,000, regardless of the judgment amount. Provides that if an appellee proves that an appellant is dissipating assets outside the ordinary course of business to avoid payment of a judgment, a court may require the appellant to post a supersedeas bond in an amount up to the total judgment amount. Effective immediately.
LRB096 10829 AJO 21055 b
A BILL FOR
SB1888 LRB096 10829 AJO 21055 b
AN ACT concerning civil law.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Code of Civil Procedure is amended by adding
Section 2-1306 as follows:
(735 ILCS 5/2-1306 new)
Sec. 2-1306. Supersedeas bonds.
(a) In civil litigation under any legal theory, execution
of the judgment shall be stayed during the entire course of
appellate review upon the posting of a supersedeas bond set in
accordance with applicable laws or court rules, except that the
total supersedeas bond that is required of all appellants
collectively shall not exceed $75,000,000, regardless of the
amount of the judgment.
(b) Notwithstanding subsection (a) of this Section, if an
appellee proves by a preponderance of the evidence that an
appellant is dissipating assets outside the ordinary course of
business to avoid payment of a judgment, a court may require
the appellant to post a supersedeas bond in an amount up to the
total amount of the judgment.
Section 99. Effective date. This Act takes effect upon
becoming law.