Indiana § 14-25-5-11 - Financial responsibility bonds; compensation, forfeiture
Full text of Indiana Indiana Code § 14-25-5-11 — Financial responsibility bonds; compensation, forfeiture, with citation guidance and answers to common questions.
§ 14-25-5-11. Financial responsibility bonds; compensation, forfeiture
Sec. 11. (a) After a bond is filed under section 10 of this chapter, the operator of a significant water withdrawal facility and a complaining lake owner may enter into a written agreement for compensation to the lake owner instead of bond forfeiture.
(b) If:
(1) the operator and lake owner have not entered into an agreement within three (3) years after a temporary order under section 7 of this chapter has been issued; and
(2) the freshwater lake has not returned to normal;
the director shall order the forfeit to the benefit of the lake owner of the part of the bond filed under section 10 of this chapter that is needed to provide compensation under section 10 of this chapter.
(c) If a financial responsibility bond has been filed for the benefit of more than one (1) complaining lake owner, the amount of the bond forfeited under subsection (b) shall be distributed to the affected complaining lake owners on a pro rata basis.
(d) Instead of forfeiting a bond under subsection (b), the operator of a significant water withdrawal facility may pay cash to a lake owner in the amount of the part of the bond forfeited under subsection (b).
[Pre-1995 Recodification Citation: 13-2-2.6-13(c), (d), (e).]
As added by P.L.1-1995, SEC.18.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 14-25-5-11
What does Indiana Code § 14-25-5-11 cover?
Section 14-25-5-11 ("Financial responsibility bonds; compensation, forfeiture") 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 § 14-25-5-11?
A common citation format is "Indiana Code § 14-25-5-11" (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 § 14-25-5-11 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.