Ind. Code § 21-9-4-11

Current through P.L. 171-2024

Section 21-9-4-11 - Surety bond

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.

IC 21-9-4-11

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