A. An appeal from an order of the superior court approving a plan shall not be effectual for any purpose, unless within thirty days after the entry of the order the appellant files with the clerk of the court a bond with a surety company authorized by law to transact business in this state as surety thereon to the effect that the appellant, in the event the order is affirmed on appeal, will pay all costs and expenses, including attorneys' fees, arising from the appeal, and also all losses and damages to the holders of accounts and shares of guaranty capital, creditors and other persons affected by the plan, arising from any delay in consummating the plan caused by the appeal. The form and amount of the bond shall be approved by the superior court, but the bond shall not be for an amount less than one per cent of the total liabilities of the association.
B. Appeals from orders approving plans shall be given preference to other appeals except contested election cases and cases in which the state is a party.Section: Previous 6-484 6-486 6-487 6-488 6-489 6-490 6-491 6-492 6-493 6-494 6-495 6-496 6-497 6-501 6-502 Next
Last modified: October 13, 2016