§ 16-55-214 - Maximum appeal bond in civil litigation. - Arkansas Statutes

16-55-214. Maximum appeal bond in civil litigation.

(a) Appeal bonds shall be determined under 16-68-301 et seq., and Arkansas Rules of Appellate Procedure -- Civil, Rule 8, except that the maximum appeal bond that may be required in any civil action under any legal theory shall be limited to twenty-five million dollars ($25,000,000), regardless of the amount of the judgment.

(b) If a party proves by a preponderance of the evidence that the party who has posted a bond in accordance with subsection (a) of this section is purposely dissipating or diverting assets outside of the ordinary course of its business for the purpose of evading ultimate payment of the judgment, the court may enter orders as are necessary to prevent dissipation or diversion, including requiring that a bond be posted equal to the full amount of the judgment.

(c) Notwithstanding the provisions of 16-55-220, the maximum appeal bond for any cause of action brought under any legal theory shall be limited to twenty-five million dollars ($25,000,000), regardless of the amount of the judgment or the date the cause of action accrued, subject to the provisions of 16-55-214(b).