Local Rule 67.3: Bonds and Other Sureties
N.D.N.Y. — Civil rule
67.3 Bonds and Other Sureties
(a) General Requirements. Unless the Court expressly directs otherwise pursuant to the provisions of 18 U.S.C. § 3146 in the supervision of a criminal matter, the principal obligor or one or more sureties qualified under this Rule shall execute every bond, recognizance or other undertaking that the law or court order requires in any proceeding.
(b) Unacceptable Sureties. An attorney or the attorney's employee, a party to an action, or the spouse of a party to an action or of an attorney shall not be accepted as surety on a cost bond, bail bond, appeal bond, or any other bond.
(c) Corporate Surety. A corporate surety on any undertaking in which the United States is the obligee shall be qualified in accordance with the provisions of 31 U.S.C. §§ 9304–08, and approved thereunder by the Secretary of the Treasury of the United States. In all other instances, a corporate surety qualified to write bonds in the State of New York shall be an acceptable surety. In all actions, a power of attorney showing authority of the agent signing the bond shall be attached to the bond.
(d) Personal Surety. Persons competent to convey real property who own real property in the State of New York of an unencumbered value of at least the stated penalty of the bond shall obtain consideration for qualification as surety thereon by attaching thereto a duly acknowledged justification showing (1) the legal description of the real property; (2) a complete list of all encumbrances and liens thereon; (3) its market value based upon recent sales of like property; (4) a waiver of inchoate rights of any character and certification that the real property is not exempt from execution; and (5) certification as to the aggregate amount of penalties of all other existing undertakings, if any, assured by the bondsperson as of that date. The Court will review the justifications and certifications for approval or disapproval of the surety.
(e) Cost Bonds. The Court on motion, or upon its own initiative, may order any party to file an original bond for costs or additional security for costs in such an amount and so conditioned as the court by its order shall designate.
(f) Cash Bonds. Cash bonds shall be deposited into the Court's registry only upon execution and filing of a written bond sufficient as to form and setting forth the conditions of the bond. Withdrawal of cash bonds so deposited shall not be made except upon the Court's written order.
(g) Insufficiency--Remedy. An opposing party may raise objections to a bond's form or timeliness or the sufficiency of the surety. If the bond is found to be insufficient, the Court shall order that a party file a sufficient bond within a stated time. If the party does not comply with the order, the Court shall dismiss the case for want of prosecution, or the Court shall take other appropriate action as justice requires.