21-3A-7. Security authorized for payment of judgment for periodic installments.

Security authorized or required for payment of a judgment for periodic installments entered in accordance with this chapter shall be in one or more of the following forms and approved by the court:

(1)    Bond executed by a qualified insurer;

(2)    Annuity contract executed by a qualified insurer;

(3)    Evidence of applicable and collectible liability insurance with one or more qualified insurers;

(4)    An agreement by one or more qualified insurers to guarantee payment of the judgment; or

(5)    Any other satisfactory form of security.

Security complying with this section serves also as a required supersedeas bond.

Source: SL 1986, ch 163, § 7.