Indiana § 7.1-3-1-12 Cancellation of surety bond

Indiana Statutes

§ 7.1-3-1-12 — Cancellation of surety bond

Indiana § 7.1-3-1-12

Art. 3PERMITS

Ch. 1General Provisions

This text of Indiana § 7.1-3-1-12 (Cancellation of surety bond) 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 § 7.1-3-1-12 (2026).

Text

Cancellation of Surety Bond. A surety may
not cancel or annul a surety bond filed in accordance with the
provisions of this title after it has been approved by the commission.
However, a surety, with the consent of the commission, may cancel a
bond and be released from liability accruing after the effective date of
the cancellation. The commission shall not approve a cancellation until
the surety has paid and discharged in full its liability to the state on the
bond to the date of the approval of the cancellation.
[Pre-1973 Recodification Citation: 7-1-1-42(f).]
Formerly: Acts 1973, P.L.55, SEC.1.

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Cancellation of Surety Bond. A surety may
not cancel or annul a surety bond filed in accordance with the
provisions of this title after it has been approved by the commission.
However, a surety, with the consent of the commission, may cancel a
bond and be released from liability accruing after the effective date of
the cancellation. The commission shall not approve a cancellation until
the surety has paid and discharged in full its liability to the state on the
bond to the date of the approval of the cancellation.
[Pre-1973 Recodification Citation: 7-1-1-42(f).]
Formerly: Acts 1973, P.L.55, SEC.1.