Indiana Statutes
§ 27-9-3-23 — Discharge of surety under releasing bond
The liability of a surety under a releasing
bond or other like obligation shall be discharged to the extent of the
value of the indemnifying property recovered or the indemnifying lien
nullified and avoided by the liquidator, or where the property is
retained under section 22 of this chapter to the extent of the amount
paid to the liquidator.
As added by Acts 1979, P.L.255, SEC.1.
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