Sec. 4. The proceeds of the security, bond, or other guarantee ordered to secure the obligation of child support ordered under this article that are not applied to the expenses described in section 3 of this chapter must be applied toward:

(1) the child’s postsecondary education; or

Terms Used In Indiana Code 31-16-3.5-4

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(2) the support and maintenance of the child.

As added by P.L.171-2001, SEC.8. Amended by P.L.2-2007, SEC.360.

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