Bonds; form
Sec. 2. A bond described in section 1 of this chapter may be
prepared in substantially the following form:
STATE OF INDIANA )
) SS:
COUNTY OF __________________)
)
)
IN THE MATTER OF:
)
)
Name of Parent (As the Principal)
)
Name of Parent (As the Obligee)
)
)
CHILD:
)
Name of Child
)
KNOW ALL MEN BY THESE PRESENTS, that we _________,
as Principal, and _____, as Surety, are held and firmly bound unto
_____, as Obligee, in the penal sum of ____ Dollars ($____), for the
payment of which well and truly to be made we hereby bind
ourselves and our heirs, administrators, successors, and assigns,
jointly and severally, firmly by these presents.
WHEREAS, an Order was duly made and entered by the above
Court in the State of Indiana, County of ____, dated ____, defining
custody, parenting time, and support rights regarding the named
children.
NOW THEREFORE, the conditions of this obligation are such
that:
1. No right of action on this bond shall be granted for the use
or benefit of any individual, partnership, corporation, or
other entity, other than the named Obligee.
2. It is agreed that neither this bond nor the obligation of this
bond, nor any interest in this bond, may be assigned
without the prior express written consent of the Surety.
3. Payment under this bond shall be conditioned upon the
Obligee's, or the representative of the Obligee's, filing a
motion with the court seeking a declaration of forfeiture of
the bond and the Court's finding and entry of a final
judgment ordering the Principal and Surety to make such
payment. A certified copy of the filing shall be provided
to the Surety at its address of record. The Surety shall
make payment within thirty (30) days of receiving
notification of the final judgment directly to a Trustee
appointed by the Court who shall administer the funds in
a fiduciary capacity.
4. The Surety shall not be liable hereunder for any amount
larger than the face amount of this bond.
5. This bond and the obligation hereunder shall terminate and
be of no further effect if the Court order requiring it is
modified in any way without the Surety's consent, the
Court order expires, or this cause is removed to another
jurisdiction.
6. The Surety may file a motion with the Court for discharge
of this bond and its obligation hereunder for any good
cause. Good cause includes, but is not limited to,
misrepresentation or fraud in the initial application for this
bond, nonpayment of premium, loss of collateral, or
resignation of the Indemnitor. The Surety shall give notice
of any such motion to the Obligee.
NOW THEREFORE, if the Principal faithfully complies with the
requirements and conditions of the Court Order within the limitations
and parameters set forth therein, then this Obligation shall be void,
otherwise it shall remain in full force and effect.
In witness whereof, each party to this bond has caused it to be
executed at the place and on the date indicated below.
Signed, sealed and dated on this ____ day of ____, 20___.
Principal: Surety:
_______ _______
(Name and address of Principal)
(Name and address of Surety)
_______ _______
(Signature of Principal)
(Countersigned by attorney-in-fact)
(Surety seal)
Witness:
As added by P.L.171-2001, SEC.1. Amended by P.L.68-2005,
SEC.12.
Last modified: May 24, 2006