Sec. 22. (a) As used in this section, "license bond" refers to a surety bond required by a political subdivision as a condition that the political subdivision issue a license or a permit to a person.
(b) If a political subdivision requires a person to post a license bond, a surety bond posted by the person is considered sufficient if the following conditions are satisfied:
(1) The bond is written by a surety company authorized to transact business in Indiana.
(2) The obligation on the bond is for an amount that is at least the amount required by the political subdivision for the issuance of the particular license or permit. A political subdivision may not require the obligation on a license bond to be more than fifteen thousand dollars ($15,000).
(3) The obligee or obligees named on the bond are any of the following:
(A) The political subdivision that requires the license bond.
(B) Specifically named political subdivisions in the county that include the name of the political subdivision that requires the license bond.
(C) All political subdivisions in the county in which the political subdivision that requires the license bond is located.
(D) All political subdivisions of the same kind as the political subdivision that requires the license bond located in the county.
(4) The conditions of the bond otherwise comply with the requirements of the ordinance that imposes the license bond condition.
(c) A person required to post a license bond satisfies the posting requirement if the person files a copy of the license bond with the political subdivision or appropriate agency of the political subdivision that requires the license bond. A political subdivision may not require that the person record the license bond.
As added by P.L.123-2019, SEC.1.
Structure Indiana Code
Chapter 4. General Corporate Powers
36-1-4-1. Application of Chapter
36-1-4-2. Establishment and Operation
36-1-4-3. Power to Sue and Be Sued
36-1-4-5. Acquisition of Real and Personal Property
36-1-4-6. Interests in Property; Use, Improvement, Lease, or Disposal
36-1-4-7.5. Environmentally Contaminated Real Estate; Agreement to Defend or Indemnify
36-1-4-9. Borrowing of Money; Requirements
36-1-4-10. Acceptance of Donations
36-1-4-12. Attendance of Witnesses and Production of Documents at Meetings
36-1-4-13. Contempt and Disorder in Rooms of Department
36-1-4-14. Employees; Employment and Discharge; Class Based on Merit and Qualification
36-1-4-15. Compensation of Officers and Employees
36-1-4-16. Ratification of Actions of Officers or Employees; Procedure
36-1-4-17. Compromise of Claims Against Unit; Collecting Owed Money
36-1-4-20. Expenditures in Support of Military Facilities
36-1-4-21. Placement or Display of Political Materials on Political Subdivision Property
36-1-4-22. "License Bond"; Conditions for Sufficiency; Filing Copy With Political Subdivision