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 in which an appellant described in subsection 3 is required to give a bond in order to secure a stay of execution of the judgment during the pendency of the appeal, the amount of the bond must not exceed $50,000,000.
2. If the plaintiff proves by a preponderance of evidence that the appellant who posted the 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 enter such orders as are necessary to prevent such dissipation or diversion, including, without limitation, requiring that a bond be posted in an amount equal to the full amount of the judgment.
3. The provisions of this section apply only to civil litigation involving a signatory or a successor in interest of a signatory of the Master Settlement Agreement, as the term is defined in NRS 370A.070.
4. 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.
Last modified: February 26, 2006