Indiana Code
Chapter 1. Regulation of Timber Buyers by Department of Natural Resources
25-36.5-1-3.3. Bond or Security Forfeiture Proceeds; Overage and Shortage; Effect

Sec. 3.3. (a) If the amount realized by the department from a bond or security forfeited under section 3(g) of this chapter, after deducting expenses incurred by the department in converting the bond or security into money, is greater than the amount of the liability of the timber buyer as determined under this chapter, the department shall pay the excess to the timber buyer who furnished the bond or security.
(b) If the amount realized by the department from a bond or security forfeited under section 3(g) of this chapter, after deducting expenses incurred by the department in converting the bond or security into money, is less than the amount of liability of the timber buyer as determined under this chapter, the timber buyer's registration may be revoked.
As added by P.L.220-1993, SEC.4.

Structure Indiana Code

Indiana Code

Title 25. Professions and Occupations

Article 36.5. Timber Buyers

Chapter 1. Regulation of Timber Buyers by Department of Natural Resources

25-36.5-1-1. Definitions

25-36.5-1-2. Application for Registration; Contents; Filing; Prior Registration

25-36.5-1-2.1. Purchasing Timber; Contracts in Writing

25-36.5-1-3. Bond or Certificate of Deposit; Requisites; Cancellation; Forfeiture Proceedings; Preliminary Injunction or Restraining Order

25-36.5-1-3.1. Notice of Violation of Chapter or Rules

25-36.5-1-3.2. Adjudicative Proceeding Against Timber Buyer or Cutter

25-36.5-1-3.3. Bond or Security Forfeiture Proceeds; Overage and Shortage; Effect

25-36.5-1-3.5. Cessation of Business; Requirements for Return of Deposit

25-36.5-1-4. Violations

25-36.5-1-4.9. Refusal to Issue Timber Buyer Registration Certificate; Grounds

25-36.5-1-5. Repealed

25-36.5-1-6. Issuance of Registration Certificates; Renewal

25-36.5-1-7. Fees; Use by Department

25-36.5-1-8. Inspection of Premises, Records, and Papers

25-36.5-1-9. Rules and Regulations

25-36.5-1-10. Violations

25-36.5-1-11. Denial of Registration for Default

25-36.5-1-12. Revocation of License; Proceedings

25-36.5-1-13. Injunction; Contempt Proceedings

25-36.5-1-13.5. Civil Penalties

25-36.5-1-14. Judicial Review

25-36.5-1-15. Agents; License; Requirements; Revocation; Termination of Agency Relationship; Misdemeanor

25-36.5-1-16. Denial, Suspension, or Revocation of License or Registration; Grounds; Hearing

25-36.5-1-17. Repealed

25-36.5-1-18. Criminal History of Applicants for Registration Certificate or License