In addition to any stay of execution provided by court rule, stay of execution shall be allowed on judgments of the courts of this state for the following periods upon the judgment debtor filing with the clerk of the court in which the judgment was entered a bond in double the amount of the judgment and costs, with surety to the satisfaction of the clerk, conditioned to pay the judgment, interests, costs, and increased costs, at the expiration of the stay period. If execution is issued before elapse of the stay period, the judgment debtor may nevertheless stay execution for the balance of the period by filing the required bond.
(1) In the supreme court and the court of appeals, the period of stay, measured from date of entry of judgment, shall be:
(a) On all sums under five thousand dollars, thirty days;
(b) On all sums over five and under fifteen thousand dollars, sixty days; and
(c) On all sums over fifteen thousand dollars, ninety days.
(2) On judgments rendered in the superior court or a district court of this state, the period of stay shall be:
(a) On all sums under three thousand dollars, two months;
(b) On all sums over three thousand and under ten thousand dollars, five months; and
(c) On all sums over ten thousand dollars, six months.