Indiana § 6-6-2.5-48 Release of surety from liability; written request; notice; cancellation

Indiana Statutes

§ 6-6-2.5-48 — Release of surety from liability; written request; notice; cancellation

Indiana § 6-6-2.5-48

Art. 6MOTOR FUEL AND VEHICLE EXCISE TAXES

Ch. 2.5Special Fuel Tax

This text of Indiana § 6-6-2.5-48 (Release of surety from liability; written request; notice; cancellation) 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 § 6-6-2.5-48 (2026).

Text

(a)Sixty (60) days after making a written request for release to the commissioner, the surety of a bond furnished by a licensee is released from any liability to the state accruing on the bond after the sixty (60) day period. The release does not affect any liability accruing before the expiration of the sixty (60) day period.

(b)The commissioner shall promptly notify the licensee furnishing the bond that a release has been requested. Unless the licensee obtains a new bond that meets the requirements of this chapter and files with the commissioner the new bond within the sixty (60) day period, the commissioner shall cancel the license.

(c)Sixty (60) days after making a written request for release to the commissioner, the cash deposit provided by a licensee is canceled as security for an

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(a) Sixty (60) days after making a written
request for release to the commissioner, the surety of a bond furnished
by a licensee is released from any liability to the state accruing on the
bond after the sixty (60) day period. The release does not affect any
liability accruing before the expiration of the sixty (60) day period.
(b) The commissioner shall promptly notify the licensee furnishing
the bond that a release has been requested. Unless the licensee obtains
a new bond that meets the requirements of this chapter and files with
the commissioner the new bond within the sixty (60) day period, the
commissioner shall cancel the license.
(c) Sixty (60) days after making a written request for release to the
commissioner, the cash deposit provided by a licensee is canceled as
security for any obligation accruing after the expiration of the sixty (60)
day period. However, the commissioner may retain all or part of the
cash deposit for up to three (3) years and one (1) day as security for any
obligations accruing before the effective date of the cancellation. Any
part of the deposit that is not retained by the commissioner shall be
released to the licensee. Before the expiration of the sixty (60) day
period, the licensee must provide the commissioner with a bond that
satisfies the requirements of this chapter or the commissioner shall
cancel the license.