Sec. 9. (a) A person required to give proof of financial responsibility may file with the bureau a bond under this section. The bond shall be executed by the person giving the proof and by a surety company authorized to transact business in Indiana.
(b) The bureau may not accept a bond unless the bond is conditioned for payments in amounts and under the same circumstances as would be required in a motor vehicle liability policy furnished by the person giving proof of financial responsibility under this article.
(c) A bond filed under this section may not be canceled unless ten (10) days written notice of cancellation is given to the bureau. Cancellation of a bond under this subsection does not prevent recovery on the bond due to a right or cause of action arising before the date of cancellation.
[Pre-1991 Recodification Citation: 9-2-1-23.]
As added by P.L.2-1991, SEC.13.
Structure Indiana Code
Article 25. Financial Responsibility
Chapter 4. Financial Responsibility
9-25-4-3. Continuous Maintenance; Verification; Suspension; Third Party Contract
9-25-4-5. Minimum Amounts of Financial Responsibility
9-25-4-6. Recovery Vehicles; Minimum Amounts of Financial Responsibility; Violation
9-25-4-7. Methods of Proving Financial Responsibility
9-25-4-8. Proof of Financial Responsibility