Indiana Statutes

§ 14-26-8-37 — Contractor's bond; requirement

Indiana·Art. 26 LAKES AND RESERVOIRS·Ch. 8 Lakes; Changes in Levels

A person who has successfully bid for the whole or a part of the work shall, when the work is awarded to the person, do the following:

(1)Enter into a contract with the surveyor to perform the work.
(2)Give bond that:
(A)must be approved by the court;
(B)is payable to the state; and
(C)is in a proper penalty for the performance of the contract; that the person will pay all damages occasioned by nonfulfillment of the contract. The damages may be recovered in a court with jurisdiction. [Pre-1995 Recodification Citation: 13-2-18-15 part.]

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Legislative History

As added by P.L.1-1995, SEC.19.

Nearby Sections

15
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