Kentucky Statutes 426.640 – Bond required for suspension of sale of personal property
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The sale of personal property upon which an execution is levied shall be suspended at the instance of any person, other than the defendant in the execution, claiming the property, who shall execute, with one (1) or more sureties sufficient for double its value, a bond to the plaintiff in the execution, to the effect that, if it shall be adjudged that the property or any part of it is subject to the execution, he will pay to the plaintiff the value of the property so subject, and ten percent (10%) thereon, not exceeding the amount due on the execution, and ten percent (10%) thereon.
Effective: July 1, 1953
History: Transferred 1952 Ky. Acts ch. 84, sec. 1, effective July 1, 1953, from C.C. sec. 645.
Effective: July 1, 1953
Terms Used In Kentucky Statutes 426.640
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Personal property: All property that is not real property.
- Plaintiff: The person who files the complaint in a civil lawsuit.
History: Transferred 1952 Ky. Acts ch. 84, sec. 1, effective July 1, 1953, from C.C. sec. 645.