Indiana Statutes
§ 6-6-1.1-407 — Bond or letter of credit of distributor unsatisfactory; reduction of cash deposit
Indiana § 6-6-1.1-407
This text of Indiana § 6-6-1.1-407 (Bond or letter of credit of distributor unsatisfactory; reduction of cash deposit) 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 § 6-6-1.1-407 (2026).
Text
(a)The administrator may require a
distributor to file a new bond or new letter of credit, with a satisfactory
surety or financial institution in the same form and amount if:
(1)liability upon the old bond or letter of credit is discharged or
reduced by judgment rendered, payment made, or otherwise; or
(2)in the opinion of the administrator any surety on the old bond
or financial institution on the old letter of credit becomes
unsatisfactory.
If the new bond or new letter of credit is unsatisfactory, the
administrator shall cancel the license of the distributor. If the new bond
or new letter of credit is satisfactorily furnished, the administrator shall
release in writing the surety on the old bond or financial institution on
the old letter of credit from any liability accruing after th
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Nearby Sections
15
§ 6-1.1-1-1
Applicability§ 6-1.1-1-1.5
"Assessing official"§ 6-1.1-1-10
"Person"§ 6-1.1-1-11
"Personal property"§ 6-1.1-1-12
"Political subdivision"§ 6-1.1-1-13
Repealed§ 6-1.1-1-14
"Property taxation"§ 6-1.1-1-15
"Real property"§ 6-1.1-1-16
"School corporation"§ 6-1.1-1-17
"Special assessment"§ 6-1.1-1-18
"State agency"§ 6-1.1-1-19
"Tangible property"§ 6-1.1-1-2
"Assessment date"§ 6-1.1-1-20
"Taxing district"§ 6-1.1-1-21
"Taxing unit"Cite This Page — Counsel Stack
Bluebook (online)
Indiana § 6-6-1.1-407, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/6-6-1.1-407.