Indiana § 26-3-7-14 - Fines; revocation of license
Full text of Indiana Indiana Code § 26-3-7-14 — Fines; revocation of license, with citation guidance and answers to common questions.
§ 26-3-7-14. Fines; revocation of license
Sec. 14. (a) A licensee may not cancel an approved bond or approved insurance unless the director has given prior written approval for the cancellation and has received a substitute cash deposit or has approved a substitute bond or insurance. The surety on a bond may cancel a bond required by this chapter only after the expiration of ninety (90) days from the date the surety mailed a notice of intent to cancel, by registered or certified mail, to the director. An insurance company may cancel insurance required by this chapter only after the expiration of a thirty (30) day period from the mailing, by certified mail, of notice of intent to cancel, to the director. The surety and the insurance company shall, at the time of giving notice to the director, send a copy of the notice to the licensee.
(b) Notwithstanding any other provision of this chapter, a licensee shall automatically be fined one thousand dollars ($1,000) for failure to:
(1) file a new bond, letter of credit, or cash deposit within the ninety (90) day period as provided in this section;
(2) file new evidence of insurance within the thirty (30) day period as provided in this section; or
(3) maintain at all times a bond or cash deposit and insurance as provided in this chapter.
If a licensee fails to pay the fine and meet the requirements set forth in this subsection within ninety (90) days, the agency shall revoke the license of the licensee.
Formerly: Acts 1973, P.L.268, SEC.1. As amended by Acts 1979, P.L.249, SEC.8; P.L.125-1997, SEC.32; P.L.114-2025, SEC.20.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 26-3-7-14
What does Indiana Code § 26-3-7-14 cover?
Section 26-3-7-14 ("Fines; revocation of license") 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 § 26-3-7-14?
A common citation format is "Indiana Code § 26-3-7-14" (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 § 26-3-7-14 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.