CHAPTER 3. ACKNOWLEDGMENT OF BONDS
IC 5-4-3
Chapter 3. Acknowledgment of Bonds
IC 5-4-3-1
Certification of acknowledgment
Sec. 1. (a) An official bond of any state, county, township, or
other public officer may not be approved until the execution is
acknowledged by the principal and sureties before some officer
authorized to take the acknowledgment of deeds. The officer taking
the acknowledgment shall certify the act on the bond.
(b) In the case of a surety company, the official bonds of the
county treasurer and the city controller acting as city treasurer in a
second class city shall be signed and acknowledged by the
appropriate officers of the company in the presence of a notary
public or other officer authorized to take acknowledgments.
Otherwise, the official bonds of those officers shall be signed and
acknowledged by the officers and their sureties in the presence of at
least a majority of the board of county commissioners in the case of
the county treasurer and of a majority of the common council of the
city in the case of the city controller acting as city treasurer of a
second class city.
(Formerly: Acts 1865(ss), c.76, s.1.) As amended by Acts 1980,
P.L.8, SEC.37.
IC 5-4-3-2
Defenses
Sec. 2. The sureties in any official bond, taken and acknowledged
as contemplated in the foregoing section, shall, as between such
sureties and the state, be deemed and taken to be principals; and it
shall not be competent for any surety in such bond to set up, as a
defense to an action brought for a breach of the condition thereof,
any matter which would not be available as a defense to the principal
in such bond.
(Formerly: Acts 1865(ss), c.76, s.2.)