Ark. Code § 16-66-303

Current with legislation from 2024 effective through May 3, 2024.

Section 16-66-303 - Stay of execution - Bonds

(a) The defendants, except in cases otherwise provided for in this subchapter, when there is no execution thereon in the hands of a collecting officer, may stay any judgment or decree for money for six (6) months by giving, before the clerk of the court entering up the judgment or decree, an obligation with good surety, to be approved by the officer, in substance as follows:

"This day the defendant, A. B. together with C. D., his or her surety, came before me, a clerk of the circuit court, and undertook that they would satisfy and pay E. F. his or her judgment, including interest (if any) and cost, amounting to ............... dollars, rendered in his or her favor against A. B. by this court, within six (6) months, with legal interest on the whole amount thereof from this date."

(b) At any time before a sale of property under the execution, any execution on a judgment or decree which could be stayed before the execution issued may, be stayed for six (6) months by the defendant's giving to the officer acting under the execution an obligation payable to the plaintiff with good security for the amount thereof including interest, cost, and half of the commissions up to that time. The obligation may be in substance as follows:

"We, A. B., principal, and E. F., surety, do bind ourselves six (6) months after the date hereof to pay C. D., the plaintiff in execution, the sum of $............... dollars, to bear interest from this date, being the amount of an execution which issued from the office of the clerk of the ...............Circuit Court Clerk on the ............... day of ..............., 20............... in favor of the said C. D. for the sum of $ ............... debt (or damages); $ ............... interest; $ ............... cost of suit; and $ ............... sheriff's half commission, amounting in the whole to the sum of $ ............... aforesaid, against the said A. B., and we, the said A. B. and E. F., surety, have stayed the same.

Witness our hands this ............... day of ..............., 20................"

Ark. Code § 16-66-303

Civil Code, §§ 676, 677; Acts 1889, No. 66, §§ 1, 2, p. 82; C. & M. Dig., §§ 4294, 4295; Pope's Dig., §§ 5306, 5307; A.S.A. 1947, §§ 30-301, 30-302.