Mississippi Supersedeas Bond (Appeal Bond ~ Mississippi)
A Mississippi supersedeas bond is an absolute requirement in the state in order for the court to grant supersedeas and stay enforcement of a civil judgment. The appeal bond mechanism is contemplated under both general statutes as well as the Mississippi Rules of Appellate Procedure. MS Code §11-51-31 states, "A supersedeas shall not be granted in any case pending before the Supreme Court, unless the party applying for it shall give bond as required by the Rules of the Supreme Court". Appellate rules roughly mirror the Chapter 11 requirement. Miss. R. App. P. 8, "The appellant shall be entitled to a stay of execution of a money judgment pending appeal if the appellant gives a supersedeas bond, payable to the opposite party, with two or more sufficient resident sureties, or one or more guaranty or surety companies authorized to do business in this state, . . ."
The amount of the supersedeas bond must be calculated pursuant to statute. There are "caps" on the amounts that a court may impose. In 2001, the Supreme Court amended Rule 8 to limit the bond required for the appeal of PUNITIVE damages. Pursuant to R.8, "If the defendant is appealing a PUNITIVE damages award, the bond may be the lower of: 125 percent of the total amount of punitive damages OR; ten (10%) percent of the net worth of the defendant seeking appeal, as determined by applying generally accepted accounting principles to the defendant's financial status as of December 31 of the year prior to the entry of the judgment for punitive damages, never to exceed $100 million." The Supreme's amendment does not necessarily restrict a trial court's authority to fix the supersedeas bond amount which allows the court to, "require the giving of security by the appellant in such form and in such sum as the court deems proper, and for good cause shown may set a supersedeas bond in an amount less than the 125 percent required in cases under Rule 8 (a)."
The Mississippi supersedeas bond ruling, listed as No. 89-R-99027-SCT, In Re: Mississippi Rules of Appellate Procedure, is available on the Supreme Court's web site.
Underwriting and is best accomplished by a surety bond expert with knowledge of the specific judicial bond obligation and the specific pleading style required by the court and/or Rules of Appellate Procedure. A Mississippi supersedeas bond must follow the specific statutory language found in the appellate rules. Mississippi surety bond leader, Surety One, Inc. specializes in judicial bonds for all district, superior, family, supreme and appellate courts. A Mississippi supersedeas bond application submission is reviewed and responded to within one hour of receipt. We are the most agile court bond underwriter in the United States. Call (800) 373-2804, email us at Underwriting@SuretyOne.com or click here if you would like to chat live with an underwriter about your Mississippi appeal bond need.
Is your appeal from a judgment from a U.S. District Court? Visit our federal supersedeas bond page.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.
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