20.035 - Limitation on amount of bond in litigation involving Master Settlement Agreement. - Nevada Statutes

20.035  Limitation on amount of bond in litigation involving Master Settlement Agreement.

      1.  Except as otherwise provided in subsection 2, if an appeal is taken of a judgment in a civil action involving a signatory, or a successor in interest or affiliate of a signatory, of the Master Settlement Agreement in which an appellant is required to give a bond in order to secure a stay of execution of the judgment during the pendency of any or all such appeals, the total cumulative sum of all the bonds required from all the appellants involved in the civil action must not exceed $50,000,000.

      2.  If the plaintiff proves by a preponderance of evidence that an appellant who posted a bond pursuant to subsection 1 is purposefully dissipating or diverting assets outside of the ordinary course of its business to evade the ultimate payment of the judgment, the court may, if it determines that such an order is necessary to prevent such dissipation or diversion, require the appellant to post a bond in an amount that does not exceed the full amount of the judgment.

      3.  The provisions of this section do not limit the discretion of a court, for good cause shown, to set the bond on appeal in an amount less than the amount otherwise required by law.

      4.  For the purposes of this section:

      (a) “Affiliate” has the meaning ascribed to it in NRS 370A.030.

      (b) “Master Settlement Agreement” has the meaning ascribed to it in NRS 370A.070.

      (Added to NRS by 2001, 1007; A 2005, 476)