§ Rule 80. Bonds and Undertakings

Rule 80. Bonds and Undertakings

(a) Approval by Clerk. Except where approval by a judge is required by law, the clerk is authorized to approve all undertakings, bonds, and stipulations of security given in the form and amount prescribed by statute or order of the court, where the same are executed by approved surety companies.

(b) Qualifications of Sureties.

(1) Individuals. Each individual surety must be a resident of the state. Each must be worth the sum specified in the undertaking, exclusive of property exempt from execution, and over and above all just debts and liabilities, except that where there are more than two sureties, each may be worth a lesser amount if the total net worth of all of them is equal to twice the sum specified in the undertaking. No attorney at law, peace officer, clerk of any court, or other officer of any court is qualified to be surety on the undertaking.

(2) Corporations. A corporate surety must be in compliance with applicable laws of the state, and must be qualified by law to act as surety in furnishing bail.

(1) Individuals. The undertaking must contain an affidavit of each surety which shall state that the surety possesses the qualifications prescribed by subdivision (b) of this rule.

(2) Corporations. The undertaking of a corporate surety must contain affidavits showing the authority of the agent to act for the corporation and compliance by the corporation with all statutory requirements.

(d) Justification of Sureties.

(1) Information to Be Furnished. Sureties on any bond or undertaking shall furnish such information as may be required by the judge or magistrate approving the same, upon forms provided by the clerk of court for such purpose.

(2) Examination as to Sureties Qualifications. Upon three days' notice to a party, an adverse party may require an individual surety or the agent of a corporate surety to be examined under oath concerning the surety's qualifications. Evidence as to such qualifications shall be taken before any judge or magistrate who shall have the authority to approve or reject the bond or undertaking.

(3) Where Not Applicable. The requirements set forth in paragraphs (1) and (2) of this subdivision shall not apply to individual sureties for a national banking association or for a state bank or other financial institution regulated under Title 6 Alaska Statutes.

(e) Approval by Attorneys. Every recognizance, bond, stipulation or undertaking hereinafter presented to the clerk or a judge for approval shall have appended thereto a certificate of an attorney, if a party is represented by an attorney, substantially in the following form:

“Examined and recommended for approval as provided in Rule 80.

Attorney”

Such endorsement by an attorney will signify to the court that the attorney has carefully examined the recognizance, bond, stipulation or undertaking, and that the attorney knows the contents thereof; that the attorney knows the purposes for which it is executed; and that in the attorney's opinion the same is in due form. The recognizance, bond, stipulation or undertaking shall further have appended thereto a form substantially as follows:

“I hereby approve the foregoing.

Dated this ___ day of _______, 19__.

________________________________________________________________________________
Judge (or Clerk)”

(f) Enforcement Against Sureties. By entering into a bond or undertaking, the surety submits to the jurisdiction of the court and irrevocably appoints the clerk of court as the surety's agent upon whom any papers affecting the surety's liability on the bond may be served. The surety's liability may be enforced on motion without the necessity of an independent action. The motion and such notice of the motion as the court prescribes may be served on the clerk who shall forthwith mail copies to the surety if the surety's address is known. Every bond or undertaking shall contain the consent and agreement of the surety to the provisions of this subdivision of this rule.

(g) Cash Deposit in Lieu of Bond. A cash deposit of the required amount may be made with the clerk in lieu of furnishing a surety bond. At the time of such cash deposit, there shall be filed a written instrument properly executed and acknowledged by the owner of the cash, or by the owner's attorney or authorized agent, setting forth the conditions under which the deposit is being made, the ownership of the fund, and the consent and agreement to the provisions of subdivision (f) of this rule.