Kentucky Statutes 425.001 – Exemption of surety on specified bonds
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No surety shall be required on any bond made for the purpose of the issuance of a temporary restraining order, writ of possession, or order of attachment pursuant to this chapter by any domestic bank, savings and loan institution, or institution which is a member of the Farm Credit System, as defined by 12 U.S.C. § 2002.
Effective: July 15, 1982
History: Created 1982 Ky. Acts ch. 135, sec. 1, effective July 15, 1982.
Effective: July 15, 1982
Terms Used In Kentucky Statutes 425.001
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Domestic: when applied to a corporation, partnership, business trust, or limited liability company, means all those incorporated or formed by authority of this state. See Kentucky Statutes 446.010
- Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
History: Created 1982 Ky. Acts ch. 135, sec. 1, effective July 15, 1982.