2001 Regular Session
By: Senator(s) Ross
Senate Bill 2495
AN ACT TO AMEND SECTION 11-51-31, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT AN APPEALING PARTY SHALL NOT BE REQUIRED TO GIVE BOND ON THE AMOUNT OF THE JUDGMENT DESIGNATED AS PUNITIVE DAMAGES IN ORDER TO BE GRANTED A SUPERSEDEAS; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 11-51-31, Mississippi Code of 1972, is amended as follows:
11-51-31. A supersedeas shall not be granted in any case pending before the Supreme Court, unless the party applying for it shall give bond as required by the Rules of the Supreme Court. However, the party shall not be required to give bond on more than twenty-five percent (25%) of the amount of the judgment designated as punitive damages. Notwithstanding any other provision of this section, the party shall not be required to give bond on any amount of a judgment in excess of One Hundred Million Dollars ($100,000,000.00).
SECTION 2. This act shall take effect and be in force from and after July 1, 2001.