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Enrolled Version - Final Version Senate Bill 671 History

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ENROLLED

Senate Bill No. 671

(By Senators Ross and Love)

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[Passed March 11, 2004; in effect ninety days from passage.]

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AN ACT to amend and reenact §4-11A-4 and §4-11A-5 of the code of West Virginia, 1931, as amended, all relating to the appeal bond that master settlement agreement signatories must post to stay the execution of a judgment pending appeal; and providing for effective date of this amendment.

Be it enacted by the Legislature of West Virginia:
That §4-11A-4 and §4-11A-5 of the code of West Virginia, 1931, as amended, be amended and reenacted, all to read as follows:
ARTICLE 11A. LEGISLATIVE APPROPRIATION OF TOBACCO SETTLEMENT FUNDS.
§4-11A-4. Limitation on appeal bond.
The bond that any appellant who is a signatory or a successor to a signatory of the master settlement agreement or who controls or is under common control with a signatory of the master settlement agreement may be required to post to stay execution on a judgment during an appeal in any cause of action shall be set in accordance with the provisions of section fourteen, article five, chapter fifty-eight of this code and the West Virginia rules of civil procedure: Provided, That an appeal bond may not exceed one hundred million dollars for compensatory damages and all other portions of a judgment other than punitive damages and one hundred million dollars for punitive damages unless the appellee proves by a preponderance of the evidence that the appellant or appellants are purposefully dissipating or diverting assets outside of the ordinary course of its business to the effect that the ability to pay the ultimate judgment is impaired. For purposes of this section, multiple judgments resulting from cases that have been consolidated or aggregated for purposes of trial proceedings shall be treated as a single judgment.
§4-11A-5. Applicability.
The provisions of section four of this article, as originally passed or later amended, apply to all actions pending in the courts of this state on the effective date of this section and to any action filed in this state on or after the effective date: Provided, That the provisions of section four of this article providing for the maximum amount of an appeal bond shall not apply in any action brought by any signatory to the master settlement agreement seeking to enforce compliance with the terms of the master settlement agreement or for a breach of the master settlement agreement.
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