Sec. 7. No surety or representative of a surety shall confess judgment or suffer judgment, by default, in any case, when the surety or representative is notified that there is a valid defense, if the principal will:
(1) enter as a defendant to the action; and
(2) tender to the surety or the representative good security to indemnify him, to be approved by the court.
[Pre-1998 Recodification Citation: 34-1-55-7.]
As added by P.L.1-1998, SEC.17.
Structure Indiana Code
Title 34. Civil Law and Procedure
Article 22. Causes of Action: Surety's Remedies Against Principal
Chapter 1. Remedies of Sureties Against Their Principals
34-22-1-2. Discharge of Surety
34-22-1-3. Trial on Issue of Suretyship; Two or More Defendants
34-22-1-4. Order of Levy Upon Property of Principal and Surety
34-22-1-5. Judgment Remaining in Force for Use of Surety or Other Person Making Payment
34-22-1-6. Remedies Against Codefendants and Cosureties
34-22-1-7. When Confessed Judgment or Default Judgment by Surety Not Permitted