Iowa Code 626.40 – Indemnifying bond
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Terms Used In Iowa Code 626.40
- property: includes personal and real property. See Iowa Code 4.1
- security: includes , but is not limited to, a certificated security, an uncertificated security, and a security account. See Iowa Code 633D.2
When the attaching or execution creditor thus pays or deposits the amount of the claim under the security agreement, the creditor shall not be required to give an indemnifying bond on notice to the sheriff by the holder of the security agreement of the holder’s right to the property thereunder, or if one has been given, it shall be released.