7-106. Deposit in lieu of bond
A. In a civil or criminal matter or proceeding when a bond is required of a party, he may, instead of giving the bond, deposit with the court lawful money of the United States in the sum required in the bond, which shall be accepted in lieu of the bond. If the party has given bond, he may, before its forfeiture, deposit the sum mentioned in the bond, whereupon the bond shall be exonerated. A party having deposited money in lieu of giving bond, may, before its forfeiture, withdraw the money upon the giving and approval of a sufficient bond.
B. When money has been deposited and remains on deposit at the time of judgment or disposition of the matter, and thereby has become liable to the satisfaction thereof, the money shall, under the direction of the court, be applied in the same manner and to the same extent as if it had been recovered upon a bond given for that purpose. Where an appeal is taken and money has been deposited in lieu of a bond, the deposit shall be disposed of in the same manner as if it were a bond filed in the proceeding.Section: Previous 7-101 7-102 7-103 7-104 7-105 7-106 7-107 7-108 7-109 7-110 7-121 7-122 Next
Last modified: October 13, 2016