Indiana § 4-31-5-6.5 - Bonds
Full text of Indiana Indiana Code § 4-31-5-6.5 — Bonds, with citation guidance and answers to common questions.
§ 4-31-5-6.5. Bonds
Sec. 6.5. (a) At least sixty (60) days before the commencement of a horse racing meeting, a permit holder shall:
(1) post a bond in an amount not to exceed one million dollars ($1,000,000), as determined by the commission; or
(2) submit to the commission alternative proof of financial responsibility approved by the commission.
(b) A bond posted under subsection (a)(1):
(1) is subject to the approval of the commission; and
(2) must be payable to the commission as obligee for use in payment of the applicant's financial obligations to the commission or the state and other aggrieved parties, as determined by the rules of the commission.
As added by P.L.24-1992, SEC.12. Amended by P.L.168-2019, SEC.4.
Frequently Asked Questions About Indiana § 4-31-5-6.5
What does Indiana Code § 4-31-5-6.5 cover?
Section 4-31-5-6.5 ("Bonds") 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 § 4-31-5-6.5?
A common citation format is "Indiana Code § 4-31-5-6.5" (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 § 4-31-5-6.5 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.