Sec. 5. The written undertaking is valid in law. An action may be brought on the written undertaking, whenever the condition of the written undertaking is broken, and on recovery. The value of the property so taken, with damages not exceeding ten percent (10%) on the value, shall be assessed in favor of the plaintiff. However, the recovery may not exceed the amount due on the execution, and ten percent (10%) on the principal.
[Pre-1998 Recodification Citation: 34-1-38-5.]
As added by P.L.1-1998, SEC.51.
Structure Indiana Code
Title 34. Civil Law and Procedure
Article 55. Execution of Judgments
Chapter 5. Personal Property Taken in Execution of Judgment
34-55-5-1. Return of Property to Execution Defendant
34-55-5-3. Nondelivery of Property; Duty of Sheriff to Levy and Sell
34-55-5-4. Forfeiture of Undertaking; Endorsement