§ 2.18 Bonds Required Under the Act.

• Jurisdiction: Arizona

§ 2.18 Bonds Required Under the Act. The Act itself (A.R.S. §§ 12-2401 to -2412 ) does not specifically provide for any bonds to be filed, but by its incorporation of the replevin, attachment, and garnishment statutes, bonds are required in order to obtain a provisional remedy with or without notice. The replevin statute requires that the creditor deliver to the sheriff a bond made payable to the defendant “in an amount not less than double the value of the property as stated in the affidavit.” A.R.S. § 12-1303 . If the plaintiff does not prosecute the action “to effect and without delay,” then the bond can be forfeited to the defendant. The bond also provides a means of compensation to the debtor if the plaintiff is unable to return the property levied upon by the sheriff, in which case the plaintiff “will pay the assessed value of the property and all damages for its taking and detention, and costs in the action, including reasonable attorney’s fees.” In the case of an attachment, two bonds may be required: one payable to the defendant and filed with the clerk “in an amount not less than the amount for which action is brought” (A.R.S. §...