Indiana § 12-11-14-15 Surety bond

Indiana Statutes

§ 12-11-14-15 — Surety bond

Indiana § 12-11-14-15

Art. 11SERVICES FOR INDIVIDUALS WITH

Ch. 14Achieving a Better Life Experience (ABLE) Program

This text of Indiana § 12-11-14-15 (Surety bond) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 12-11-14-15 (2026).

Text

Before the adoption and implementation of a qualified ABLE program:

(1)the chairperson;

(2)the vice chairperson;

(3)the manager; and

(4)any officer elected by the authority or member of the authority authorized by resolution to handle funds or sign checks; shall execute a surety bond in the penal sum of one hundred thousand dollars ($100,000). The surety bond shall be conditioned upon the faithful performance of the duties of the office of the principal and shall be executed by a surety company authorized to transact business in Indiana. The authority shall pay the cost of the bonds.

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Before the adoption and implementation of
a qualified ABLE program:
(1) the chairperson;
(2) the vice chairperson;
(3) the manager; and
(4) any officer elected by the authority or member of the authority
authorized by resolution to handle funds or sign checks;
shall execute a surety bond in the penal sum of one hundred thousand
dollars ($100,000). The surety bond shall be conditioned upon the
faithful performance of the duties of the office of the principal and
shall be executed by a surety company authorized to transact business
in Indiana. The authority shall pay the cost of the bonds.