Indiana § 25-36.5-1-3.3 Bond or security forfeiture proceeds; overage and shortage; effect

Indiana Statutes

§ 25-36.5-1-3.3 — Bond or security forfeiture proceeds; overage and shortage; effect

Indiana § 25-36.5-1-3.3

Title 25PROFESSIONS AND OCCUPATIONS

Art. 36.5TIMBER BUYERS

Ch. 1Regulation of Timber Buyers by Department of Natural

This text of Indiana § 25-36.5-1-3.3 (Bond or security forfeiture proceeds; overage and shortage; effect) 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 § 25-36.5-1-3.3 (2026).

Text

3.

(a)If the amount realized by the department from a bond or security forfeited under section 3(g) of this chapter, after deducting expenses incurred by the department in converting the bond or security into money, is greater than the amount of the liability of the timber buyer as determined under this chapter, the department shall pay the excess to the timber buyer who furnished the bond or security.

(b)If the amount realized by the department from a bond or security forfeited under section 3(g) of this chapter, after deducting expenses incurred by the department in converting the bond or security into money, is less than the amount of liability of the timber buyer as determined under this chapter, the timber buyer's registration may be revoked.

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3. (a) If the amount realized by the
department from a bond or security forfeited under section 3(g) of this
chapter, after deducting expenses incurred by the department in
converting the bond or security into money, is greater than the amount
of the liability of the timber buyer as determined under this chapter, the
department shall pay the excess to the timber buyer who furnished the
bond or security.
(b) If the amount realized by the department from a bond or security
forfeited under section 3(g) of this chapter, after deducting expenses
incurred by the department in converting the bond or security into
money, is less than the amount of liability of the timber buyer as
determined under this chapter, the timber buyer's registration may be
revoked.