Indiana § 8-21-3-15 - Bond giving proof of financial responsibility
Full text of Indiana Indiana Code § 8-21-3-15 — Bond giving proof of financial responsibility, with citation guidance and answers to common questions.
§ 8-21-3-15. Bond giving proof of financial responsibility
Sec. 15. (a) A person required to give proof of financial responsibility may file with the department a bond meeting the requirements of this section. Such bond shall be executed by the person giving such proof and by a surety company duly authorized to transact business in this state pursuant to the laws of this state.
(b) The department shall not accept any such bond unless it is conditioned for payments in amounts and under the same circumstances as would be required in an aircraft liability policy furnished by the person giving such proof under this chapter.
(c) No such bond shall be cancelled unless ten (10) days' prior written notice of cancellation is given the department but cancellation of such bond shall not prevent recovery thereon with respect to any right or cause of action arising prior to the date of cancellation.
(d) If a judgment is rendered against the principal of any such surety bond upon a liability covered by the conditions of such bond and such judgment is not satisfied within sixty (60) days after it becomes final, the department may require the judgment creditor to bring an action or actions, at his sole expense, against the company or person which executed such bond for the recovery of said judgment.
Formerly: Acts 1951, c.267, s.15; Acts 1953, c.85, s.6. As amended by Acts 1980, P.L.74, SEC.327.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 8-21-3-15
What does Indiana Code § 8-21-3-15 cover?
Section 8-21-3-15 ("Bond giving proof of financial responsibility") 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 § 8-21-3-15?
A common citation format is "Indiana Code § 8-21-3-15" (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 § 8-21-3-15 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.