§ 9-25-4-9 — Bonds as proof of financial responsibility; notice of bond cancellation; recovery on claims arising before cancellation

Indiana § 9-25-4-9

• Jurisdiction: Indiana
• Title 9: MOTOR VEHICLES
• Art. 25: FINANCIAL RESPONSIBILITY

Text

(a) A person required to give proof of financial
responsibility may file with the bureau a bond under this section. The
bond shall be executed by the person giving the proof and by a surety
company authorized to transact business in Indiana.
(b) The bureau may not accept a bond unless the bond is
conditioned for payments in amounts and under the same
circumstances as would be required in a motor vehicle liability policy
furnished by the person giving proof of financial responsibility under
this article.
(c) A bond filed under this section may not be canceled unless ten
(10) days written notice of cancellation is given to the bureau.
Cancellation of a bond under this subsection does not prevent recovery
on the bond due to a right or cause of action arising before the date of
cancellation.
[Pre-1991 Recodification Citation: 9-2-1-23.]

Legislative History

As added by P.L.2-1991, SEC.13.