Oregon Statutes 19.312 – Supersedeas undertaking in certain actions against tobacco product manufacturer
(1) The provisions of this section apply only to civil actions against a tobacco product manufacturer as defined in ORS § 323.800, or against an affiliate or successor of a tobacco product manufacturer, in which:
Terms Used In Oregon Statutes 19.312
- Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Continuance: Putting off of a hearing ot trial until a later time.
- Judgment: means a judgment or appealable order, as provided in ORS § 19. See Oregon Statutes 19.005
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Supersedeas undertaking: means an undertaking on appeal that secures performance of a judgment being appealed and operates to stay enforcement of the judgment pending appeal. See Oregon Statutes 19.005
(a) The tobacco product manufacturer is subject to the requirements of ORS § 323.806; and
(b) The state is not a plaintiff.
(2) In any civil action described in subsection (1) of this section, the supersedeas undertaking required of the tobacco product manufacturer, or of an affiliate or successor of the tobacco product manufacturer, as a condition of a stay of judgment throughout all appeals or discretionary appellate review, shall be established in the manner provided by the laws and court rules of this state applicable to supersedeas undertakings, but the amount of the supersedeas undertaking may not exceed $150 million.
(3) If at any time after the posting of the supersedeas undertaking pursuant to the provisions of this section the court determines that a tobacco product manufacturer, affiliate or successor, outside of the ordinary course of its business, is purposely dissipating or diverting assets for the purpose of avoiding payment on final judgment in the action, the court may condition continuance of the stay on an order requiring that the tobacco product manufacturer, affiliate or successor post a supersedeas undertaking in an amount up to the full amount of the judgment.
(4) The provisions of this section apply to any supersedeas undertaking required for a judgment entered by a court of this state and to any security required as a condition of staying enforcement of a foreign judgment under the provisions of ORS § 24.135 (2). [2003 c.804 § 87; 2005 c.22 § 9]
(Letter of Credit in Support of Undertaking)