Local Rule LR 65.1.1: SURETIES
M.D.N.C. — Civil rule
LR 65.1.1 SURETIES
(a) Security. Except as otherwise provided by law or by order of the Court, all bonds, guaranties, and undertakings must be secured by:
(1) Deposit of cash, certified check, certificate of deposit, bank draft, Post Office money order, surety bond, or eligible obligation as provided in 31 U.S.C. § 9301 et seq.;;
(2) Undertaking of guaranty of a company holding a certificate of authority from the U.S. Department of Treasury as an acceptable surety on federal bonds; which company has filed with the clerk the designation of a resident of this district as agent, dated not more than three years earlier than the date of the undertaking, upon whom process may be served; and which company is otherwise qualified by having met all requirements of the law of North Carolina and 31 U.S.C. § 9301 et seq.; or
(3) Undertaking of individual surety or sureties who are residents of North Carolina and own property within the state worth double the amount of the bond or undertaking over all exemptions, debts, liabilities and other obligations.
(b) Individual Sureties.
(1) An individual surety must execute an affidavit of justification giving full name, occupation, residence address, business address, and facts showing his or her financial qualification to act as surety.
(2) A husband and wife are considered as one surety.
(3) Members of the bar, officers and employees of this Court, and employees of the Department of Justice serving in this district may not serve as sureties in any suit, action, or proceeding in this Court.
(c) Approval. All bonds, guaranties, undertakings, and individual sureties must be approved by a Judge or the Clerk. Individual sureties who justify on the basis of ownership of real or personal property may be required to provide proof of ownership, such as a certificate of title, and a title search conducted by an attorney other than the attorney representing the party on whose behalf the bond is being posted, and give security in the form of a proper security instrument or deed of trust.