Indiana Statutes
§ 30-4-6-9 — Suit on bond
(Suit on Bond)
(a)The court may, on breach of the obligation of the bond of the
trustee, after notice to the obligors on the bond and to such other
persons as the court directs, determine the damages, and by appropriate
proceeding enforce the collection thereof from those liable on the bond.
Such determination and enforcement may be made by the court upon
its own motion or upon application of a successor trustee, or of any
other interested person. Damages may be assessed on behalf of all
interested persons and may be paid over to the successor or other
non-defaulting trustee or any other person the court may direct.
(b)The bond of the trustee shall not be void upon the first recovery,
but may be proceeded upon from time to time until the whole penalty
is exhausted.
(c)If the court has a
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Nearby Sections
15
§ 30-1-2-1
Stocks; bonds; securities§ 30-1-2-2
Securities not listed; terms§ 30-1-4-1
Eligible investments§ 30-1-5-1
Securities; insurance§ 30-1-6-3
Bidding; report; hearing; endorsement§ 30-1-6-5
Acts conclusive; disaffirmance denied§ 30-1-7-2
Petition to execute options; prospectus§ 30-1-7-3
Hearing; order of court§ 30-1-7-4
Binding and conclusive; disaffirmance§ 30-1-8-1
Definitions