A bond described in section 1 of this chapter
may be prepared in substantially the following form:
KNOW ALL MEN BY THESE PRESENTS, that we _________, as
Principal, and _____, as Surety, are held and firmly bound unto _____,
as Obligee, in the penal sum of ____ Dollars ($____), for the payment
of which well and truly to be made we hereby bind ourselves and our
heirs, administrators, successors, and assigns, jointly and severally,
firmly by these presents.
WHEREAS, an Order was duly made and entered by the above
Court in the State of Indiana, County of ____, dated ____, defining
custody, parenting time, and support rights regarding the named
children.
NOW THEREFORE, the conditions of this obligation are such that:
1.No right of action on this bond shall be granted for the use or
benef
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A bond described in section 1 of this chapter
may be prepared in substantially the following form:
KNOW ALL MEN BY THESE PRESENTS, that we _________, as
Principal, and _____, as Surety, are held and firmly bound unto _____,
as Obligee, in the penal sum of ____ Dollars ($____), for the payment
of which well and truly to be made we hereby bind ourselves and our
heirs, administrators, successors, and assigns, jointly and severally,
firmly by these presents.
WHEREAS, an Order was duly made and entered by the above
Court in the State of Indiana, County of ____, dated ____, defining
custody, parenting time, and support rights regarding the named
children.
NOW THEREFORE, the conditions of this obligation are such that:
1. No right of action on this bond shall be granted for the use or
benefit of any individual, partnership, corporation, or other
entity, other than the named Obligee.
2. It is agreed that neither this bond nor the obligation of this
bond, nor any interest in this bond, may be assigned without
the prior express written consent of the Surety.
3. Payment under this bond shall be conditioned upon the
Obligee's, or the representative of the Obligee's, filing a
motion with the court seeking a declaration of forfeiture of
the bond and the Court's finding and entry of a final judgment
ordering the Principal and Surety to make such payment. A
certified copy of the filing shall be provided to the Surety at
its address of record. The Surety shall make payment within
thirty (30) days of receiving notification of the final judgment
directly to a Trustee appointed by the Court who shall
administer the funds in a fiduciary capacity.
4. The Surety shall not be liable hereunder for any amount
larger than the face amount of this bond.
5. This bond and the obligation hereunder shall terminate and
be of no further effect if the Court order requiring it is
modified in any way without the Surety's consent, the Court
order expires, or this cause is removed to another jurisdiction.
6. The Surety may file a motion with the Court for discharge of
this bond and its obligation hereunder for any good cause.
Good cause includes, but is not limited to, misrepresentation
or fraud in the initial application for this bond, nonpayment
of premium, loss of collateral, or resignation of the
Indemnitor. The Surety shall give notice of any such motion
to the Obligee.
NOW THEREFORE, if the Principal faithfully complies with the
requirements and conditions of the Court Order within the limitations
and parameters set forth therein, then this Obligation shall be void,
otherwise it shall remain in full force and effect.
In witness whereof, each party to this bond has caused it to be
executed at the place and on the date indicated below.
Signed, sealed and dated on this ____ day of ____, 20___.
Witness: