Indiana § 12-11-14-15 Surety bond

Indiana Statutes

§ 12-11-14-15 — Surety bond

Indiana·Art. 11 SERVICES FOR INDIVIDUALS WITH·Ch. 14 Achieving a Better Life Experience (ABLE) Program

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.

Free access — add to your briefcase to read the full text and ask questions with AI

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.

Indiana § 12-11-14-15 (Surety bond) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.