Section 36-1-4-22.1 - License bond(a) The following definitions apply throughout this section: (1) "Contractor" means a person that enters into a contract requiring the person to perform one (1) or more tasks in a residential construction project or a similar project.(2) "License bond" refers to a surety bond required by a political subdivision as a condition that the political subdivision issue a license or a permit to a person. The term does not refer to a performance bond.(3) "Political subdivision" includes an agency, office, or department of the political subdivision.(4) "Residential onsite sewage system" has the meaning set forth in IC 16-41-25-0.4(a).(b) If a contractor: (1) has posted a license bond to obtain one (1) license or registration from a political subdivision; and(2) is required to obtain another license or registration from the political subdivision to perform work that the contractor intends to perform; the contractor may not be required to post a second license bond as a condition of obtaining the second license or registration if the type of work that the first license or registration authorizes the contractor to perform is so closely related to the type of work that the second license or registration will authorize the contractor to perform that both types of work are typically involved in a single residential construction project.
(c) Under subsection (b), a contractor that has posted a license bond to obtain an excavator's license or registration from a political subdivision may not be required to post a second license bond to obtain a license or registration from the political subdivision as a residential onsite sewage system installer.Added by P.L. 157-2024,SEC. 7, eff. 7/1/2024.