Ind. Code § 27-9-3-23

Current through P.L. 171-2024

Section 27-9-3-23 - Discharge of surety under releasing bond

The liability of a surety under a releasing bond or other like obligation shall be discharged to the extent of the value of the indemnifying property recovered or the indemnifying lien nullified and avoided by the liquidator, or where the property is retained under section 22 of this chapter to the extent of the amount paid to the liquidator.

IC 27-9-3-23

As added by Acts1979 , P.L. 255, SEC.1.