Texas Civil Practice and Remedies Code 52.007 – Alternative Security in Certain Cases
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(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 § 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.
Terms Used In Texas Civil Practice and Remedies Code 52.007
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
- Personal property: All property that is not real property.
- Property: means real and personal property. See Texas Government Code 311.005
- Rule: includes regulation. See Texas Government Code 311.005
- Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
(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 § 52.006 or under Rule 24, Texas Rules of Appellate Procedure.