LBR 2010-1. BONDS OR UNDERTAKINGS

LBR 2010-1. BONDS OR UNDERTAKINGS

(a) Bonds, Undertakings, Approval, Third-party Sureties, Security, and Qualification.
(1) Approval. The clerk is authorized to approve on behalf of the court all bonds,
undertakings, and stipulations of security given in the form and amount prescribed
by statute, order of the court, or stipulation of counsel, which comply with the
requirements of this rule and contain a certificate by an attorney, as set forth below, except where the approval of a judge is specifically required by law.
(2) Third-party Sureties. No bond or undertaking requiring third-party sureties will be
approved unless it bears the names and addresses of sufficient third-party sureties
and is accompanied by a declaration by the surety stating that:
(A) The surety is a resident of the State of California;
(B) The surety who intends to deed real property as security owns the real property within the State of California;
(C) The security posted by the surety is worth the amount specified in the bond or undertaking, over and above just debts and liabilities; and
(D) The property, real or personal, which is to be conveyed as security is not exempt from execution and prejudgment attachment. If specifically approved by the court, real property in any other state of the United States may be part of the surety’s undertaking.
(3) Terms and Conditions for Corporate Sureties. Before any corporate surety bond
or undertaking is accepted by the clerk, the corporate surety must have on file with
the district court clerk or the clerk a duly authenticated copy of a power of attorney
appointing the agent executing the bond or undertaking. The appointment must be
in a form to permit recording in the State of California.
(4) Ineligible Persons. No clerk, deputy clerk, marshal, magistrate judge, bankruptcy
judge, district judge, attorney, or other officer of this court will be accepted as
surety upon any bond or undertaking in any action or proceeding in this court.
(5) Cash in Lieu of Bond. Cash may be deposited with the clerk in lieu of any bond
or undertaking requiring a personal or corporate surety. A cash deposit in lieu of
a bond is subject to all of the provisions of this rule, LBR 7067-1, the FRBP and
the F.R.Civ.P. applicable to bonds and undertakings.
(b) Certificate by Attorney. A bond or undertaking presented to the clerk for acceptance must be accompanied by a certificate by the attorney for the presenting party in substantially the following form: “This bond (or undertaking) has been examined pursuant to LBR 2010-1 and is recommended for approval. It (is)(is not) required by law to be approved by a judge." Date_________ Attorney_________
The attorney’s certificate pursuant to this rule certifies to the court that:
(1) The attorney has carefully examined the bond or undertaking;
(2) The attorney knows the content of the bond or undertaking;
(3) The attorney knows the purpose for which the bond or undertaking is executed;
(4) In the attorney’s opinion, the bond or undertaking is in due form;
(5) The attorney believes the declarations of qualification by the surety are true; and
(6) The attorney has determined whether the bond or undertaking is required by law
to be approved by a judge.
(c) Approval of Judge. If a bond or undertaking is required by law to be approved by a judge, it must be presented to the judge with the attorney’s certificate required by this rule before it is filed by the clerk.
(d) Consent to Summary Adjudication of Obligation.
(1) A bond or undertaking presented for filing must contain the consent and agreement for the surety that in case of default or contumacy on the part of the principal or surety, the court may upon 14 days notice proceed summarily and render a judgment in accordance with the obligation undertaken and issue a writ of execution upon that judgment.
(2) An indemnitee or party in interest seeking a judgment on a bond or undertaking
must proceed by Motion for Summary Adjudication of Obligation and Execution.
The motion must be served on a personal surety in the manner provided in
F.R.Civ.P. 5(b). A corporate surety must be served in accordance with 31 U.S.C. § 9306.
(e) Bonds of Trustees. A bond required by a trustee under 11 U.S.C. § 322 is exempt from this rule. The United States trustee must set the amount of such bond and approve the sufficiency of the surety.
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