Sen. Don Harmon
Filed: 5/5/2010
 
 

 




 

 		












09600SB1888sam002

LRB096 10829 AJO 41209 a






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AMENDMENT TO SENATE BILL 1888




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    AMENDMENT NO. ______. Amend Senate Bill 1888, AS AMENDED, 
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by replacing everything after the enacting clause with the 
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following:


 
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    "Section 5. The Code of Civil Procedure is amended  by 
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adding Section 2-1306 as follows:
 
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    (735 ILCS 5/2-1306  new)
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    Sec. 2-1306. Supersedeas bonds.
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    (a) In civil litigation under any legal theory, execution 
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of the judgment shall be stayed during the entire course of 
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appellate review upon the posting of a supersedeas bond or 
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other form of security in accordance with applicable laws or 
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court rules, except that the total amount of the supersedeas 
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bond or other form of security that is required of all 
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appellants collectively shall not exceed $350,000,000, 
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regardless of the amount of the judgment, provided that this 
 


 






09600SB1888sam002
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LRB096 10829 AJO 41209 a




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limitation shall apply only if appellants file at least 35% of 
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the total amount in the form of cash, a letter of credit, a 
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certificate of deposit, or other cash equivalent with the 
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court. The cash or cash equivalent shall be deposited by the 
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clerk of the court in the account of the court, and any 
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interest earned shall be utilized as provided by law.
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    (b) Notwithstanding subsection (a) of this Section, if an 
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appellee proves by a preponderance of the evidence that an 
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appellant is dissipating assets outside the ordinary course of 
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business to avoid payment of a judgment, a court may require 
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the appellant to post a supersedeas bond in an amount up to the 
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total amount of the judgment.
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    (c) This Section applies to pending actions as well as 
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actions commenced on or after its  effective date. 
 

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    Section 99. Effective date. This Act takes effect upon 
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becoming law.".