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.