Appeal Bond Reform: HB 5151 (2002); MCLS § 600.2607
Limits the amount a defendant can be required to pay
Limits the amount a defendant can be required to pay to secure the right to appeal to $25 million. Provides that this limit will be adjusted on January 1, 2008 and again on January 1 every five years after that by an amount determined by the state treasurer to reflect the annual aggregate percentage change in the Detroit consumer price index since the previous adjustment. Provides that a court will rescind the limit if an appellee proves by a preponderance of the evidence that the party for whom the bond to stay execution has been limited is purposefully dissipating or diverting assets outside of the ordinary course of business for the purpose of avoiding ultimate payment of the judgment.
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