§ 8-21-3-6 — Payment from security deposit; information regarding security

Indiana § 8-21-3-6

• Jurisdiction: Indiana
• Art. 21: AERONAUTICS
• Ch. 3: Aircraft Financial Responsibility Act

Text

(a) Security furnished in compliance with the
requirements of this chapter shall be placed by the department in the
custody of the treasurer of state and shall be applicable only to the
payment of a judgment or claimant settlement agreement against the
depositor for damages arising out of the accident in question in an
action at law in a court of this state begun not later than one (1) year
after the date of such accident or, upon assignment of the depositor. All
such payments made out of the deposited security shall be made
subject to proration by court order or claimant settlement agreement if
there is more than one (1) claimant. Such deposit, or any balance of the
amount deposited, shall be returned to the depositor or the depositor's
personal representative whenever after the expiration of such year the
department shall be given evidence, satisfactory to it, that there is no
such judgment unsatisfied and that there is no pending action against
the depositor for damages arising out of such accident.
(b) Neither the action taken by the department pursuant to this
chapter, the findings, if any, of the department upon which such action
is based, nor the security filed by the owner or operator as provided in
this chapter shall be referred to in any way, nor be any evidence of the
negligence or due care of either party at the trial of any action at law to
recover damages.
(c) In lieu of deposit of security when required pursuant to this
chapter the aircraft owner or operator may, if the person who has
sustained bodily injury, including death, or damage to the person's
property or the person's legal representative consents, effect and deliver
a consent judgment or release for such amount and payable when and
in such installments as the judgment creditor or claimant may agree to.
In the event the judgment debtor fails to pay any installment as agreed,
then upon notice of such default, the attorney general or the
prosecuting attorney may pursuant to section 5 of this chapter maintain
an action to enjoin such person from engaging in the operation of any
aircraft or causing to be operated any aircraft within this state until
such judgment is appropriately satisfied as required under this chapter.
(d) Information regarding security taken under this section shall be
available to the person injured or the representative of any person
killed and their duly authorized agents or attorney.
Formerly: Acts 1951, c.267, s.6. As amended by Acts 1980,
P.L.74, SEC.321; P.L.1-1993, SEC.51; P.L.136-2018, SEC.103;
P.L.50-2024, SEC.5.