§ 29-1-11-5 — Affidavit of surety; value of property

Each personal surety shall execute and file with
the court an affidavit that he owns real property, subject to execution,
of a value over and above his liabilities, equal to the amount of the
bond, and shall include in such affidavit the total amount of his
obligations as surety on other official or statutory bonds.
If the amount of the bond exceeds $1,000, the affidavit shall also
state:
(a) An adequate description of the real property within this state
offered by him as security.
(b) The total amount of the liens, unpaid taxes, other bonds executed
and other encumbrances on the property so offered by him as security.
(c) The assessed and market value of such property and the value of
the surety's equity over and above all encumbrances, liens, and unpaid
taxes.
(d) That the equity in such property so offered is equal to the
amount of the bond.
The only provision of this section which shall apply in counties in
this state having a population of less than fifty thousand (50,000)
according to the last preceding United States census, is the provision
that each personal surety shall execute and file with the court an
affidavit that he owns real property, subject to execution, of a value
over and above his liabilities, including contingent liabilities equal to
the amount of the bond.
Formerly: Acts 1953, c.112, s.1105.