Indiana § 21-9-4-11 - Surety bond

Full text of Indiana Indiana Code § 21-9-4-11 — Surety bond, with citation guidance and answers to common questions.

§ 21-9-4-11. Surety bond

Sec. 11. Before the adoption and implementation of any education savings program, the:

(1) chairman;

(2) vice chairman;

(3) manager; and

(4) any officer elected by the authority or member of the authority authorized by resolution to handle funds or sign checks;

shall execute a surety bond in the penal sum of one hundred thousand dollars ($100,000). The surety bond shall be conditioned upon the faithful performance of the duties of the office of the principal and shall be executed by a surety company authorized to transact business in Indiana. The authority shall pay the cost of the bonds.

As added by P.L.165-1996, SEC.1.

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Frequently Asked Questions About Indiana § 21-9-4-11

What does Indiana Code § 21-9-4-11 cover?

Section 21-9-4-11 ("Surety bond") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Indiana § 21-9-4-11?

A common citation format is "Indiana Code § 21-9-4-11" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Indiana law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.

How does Indiana § 21-9-4-11 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.