Local Rule LR Cv 65.1: SECURITY AND SURETIES
D.R.I. — Civil rule
LR Cv 65.1 SECURITY AND SURETIES
(a) Security. Except as otherwise provided by law or by order of the Court, a 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; or
(2) the guaranty of a company or corporation holding a certificate of authority from the Secretary of the Treasury pursuant to 31 U.S.C. § 9304 et seq; or
(3) the guaranty of an individual resident of this District who owns and pledges as security real property in which such individual has equity that exceeds the amount of the bond.
(b) Individual Sureties. An individual acting as surety pursuant to paragraph (a)(3) of this rule shall execute and file an affidavit that includes:
(1) the individual's full name, occupation, and residential and business addresses; and
(2) a statement that the affiant will not encumber or dispose of the property while the bond remains in effect; and
(3) a statement from the clerk of the city or town wherein the property is located setting forth the assessed value of the property, or, alternatively, an appraisal by a licensed appraiser; and
(4) a title report from a member of the bar of the state in which the property is located certifying that such individual is the record owner of the property and listing the amount(s) of all liens and mortgages on the property, including all but the current year's real estate taxes.
(c) Members of the Bar and Court Officers Ineligible. No member of the bar or officer or employee of the Court may be surety or guarantor of any bond or undertaking in any proceeding in this Court.
(d) Execution of Bond. Except as otherwise provided by law, it shall be sufficient if a bond or similar undertaking is executed by the surety or sureties alone, and not by the party on whose behalf such security is provided.
(e) Approval of Bond. Except as otherwise provided by law, the Clerk may approve a bond the amount of which has been fixed by the Court or by statute or rule and which is secured in the manner provided by subsections (a)(1) - (a)(3) of this Rule.
(f) Service. The party on whose behalf a bond is given shall promptly after approval and filing of the bond serve a copy of it on all other parties to the proceeding.
(g) Modification of Bond. The amount or terms of a bond or similar undertaking may be changed at any time as justice requires, by order of the Court on its own motion or on motion of a party.
CROSS-REFERENCES See LR Cv 62 (Bonds) and LR Cv 65.2 (Security for Costs).