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Subcommittee reports bill to remove appeal-bond cap, citing victim compensation and federal parity
Summary
The panel voted 6-0 to report a bill that would remove a statutory cap on appeal bonds, aligning Virginia with federal courts and multiple states and preserving judicial discretion to reduce bonds.
A bill to remove the statutory cap on appeal bonds and align state practice with federal courts and other states was reported out of the Civil Law Subcommittee by a 6-0 vote.
The bill’s proponent explained that appeal bonds secure a judgment during an appeal and protect victims by ensuring a successful judgment remains collectible. The sponsor said the cap — set in law in 2000 — can leave victims undercompensated and said the change would mirror federal practice and statutes in several other states. The sponsor also noted the bill preserves existing judicial discretion under paragraph L to waive or reduce bond amounts and allows parties to agree to different terms.
Members asked how the bill would operate and whether judges or parties would set the bond amount. Counsel and the sponsor clarified the court retains discretion to waive or reduce the bond and that parties may agree to a different amount.
The subcommittee adopted the motion to report the bill by a 6-0 vote. No public speakers in opposition were recorded during the hearing.
Ending: The bill advances to the full committee; sponsor emphasized the measure is intended to prevent successful judgments from becoming illusory because of an outdated bond cap.
