Local Rule RULE 2030-1: SURETIES ON BONDS
Bankr. N.D. Ill. — General rule
RULE 2030-1 SURETIES ON BONDS A. Security for Bonds Except as otherwise provided by law, every court-ordered bond or similar undertaking must be secured by:
(1) the deposit of cash or obligations of the United States in the amount of the bond;
(2) the undertaking or guaranty of a corporate surety holding a certificate of authority from the Secretary of the Treasury; or
(3) the undertaking or guaranty of two individual residents of this district.
B. Affidavit of Justification A person acting as surety under section (A)(3) must file with the court an affidavit of justification. The affidavit must contain the person's full name, occupation, and home and business addresses. The affidavit must show that the person owns real or personal property in this district valued at no less than twice the amount of the bond, after excluding property exempt from execution and deducting the person's debts, liabilities, and other obligations (including those that may arise because of the person's suretyship on other bonds or undertakings).
C. Restriction on Sureties No attorney or employee of the bankruptcy court may act as surety in any case or proceeding in this court.