Texas § CP.52.007 - ALTERNATIVE SECURITY IN CERTAIN CASES

§ CP.52.007. ALTERNATIVE SECURITY IN CERTAIN CASES

ALTERNATIVE SECURITY IN CERTAIN CASES. (a) This section applies only to a judgment debtor with a net worth of less than $10 million. (b) On a showing by the judgment debtor that posting security in the amount required under Section 52.006 (a) or (b) would require the judgment debtor to substantially liquidate the judgment debtor's interests in real or personal property necessary to the normal course of the judgment debtor's business, the trial court shall allow the judgment debtor to post alternative security with a value sufficient to secure the judgment. (c) During an appeal, the judgment debtor shall continue to manage, use, and receive earnings from interests in real or personal property in the normal course of business. (d) If an appellate court reduces the amount of the judgment that the trial court used to set security, the judgment debtor is entitled, pending appeal of the judgment to a court of last resort, to a redetermination of the amount of security required to suspend enforcement of a judgment under Section 52.006 or under Rule 24, Texas Rules of Appellate Procedure. Added by Acts 2023, 88th Leg., R.S., Ch. 763 (H.B. 4381 ), Sec. 1, eff. September 1, 2023.