Indiana Code 9-25-7-4. Failure to pay under surety bond after entry of judgment; action in name of state against company executing bond
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Terms Used In Indiana Code 9-25-7-4
- Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
Sec. 4. If a judgment is rendered against the principal of a surety bond upon a liability covered by the conditions of the bond and the judgment is not satisfied within sixty (60) days after the judgment becomes final, the judgment creditor may, for the judgment creditor’s own use and benefit and at the judgment creditor’s sole expense, bring an action in the name of the state against the company that executed the bond.
[Pre-1991 Recodification Citation: 9-2-1-23(d).]
As added by P.L.2-1991, SEC.13.