LR 65.1 - Securities and Sureties
(See Fed. R. Civ. P. 65.1)
LR 65.1-1 Qualifications of Sureties or Other Securities; Deposit Requirements
Except for qualified corporate sureties, or as otherwise provided by statute, every bond or other security must:
- Be secured by the deposit of cash or government bonds in the amount of the bond; or
- Have as sureties two residents of the district, each of whom owns real or personal property within the district in excess of that exempt from execution and sufficient to justify the full amount of the surety.
(b) Security Provider Requirements
Except for qualified corporate sureties, before a bond or other security may be accepted, each security provider must present a verified schedule of assets and liabilities, including a statement of all other bonds and other securities on which the security provider may become liable. If the security is accepted by the Court, the schedule must be filed with the clerk.
LR 65.1-2 Court Officers as Sureties or Other Security Providers
(a) Sureties and Other Security Providers
No clerk, marshal, or other employee of the Court - nor any member of the bar representing a party in the particular action or proceeding - will be accepted as security provider on any bond or other security in any action or proceeding.
(b) Cash Deposits
Cash deposits on bonds may be made by members of the bar on certification that the funds are the property of a specified person who has signed a surety on the bond.
Upon exoneration of the bond - and upon motion and order of Court - monies held by the clerk will be returned to that specified person.
LR 65.1-3 Examination of Sureties or Other Security Providers
Any party may apply for an order requiring an opposing party to show cause why it should not be required to furnish further or different security, or requiring personal sureties to justify the full amount of the security.
- Last Updated: Thursday, January 3, 2019