Failure to pay under surety bond after entry of judgment; action
in name of state against company executing bond
Sec. 4. If a judgment is rendered against the principal of a surety
bond upon a liability covered by the conditions of the bond and the
judgment is not satisfied within sixty (60) days after the judgment
becomes final, the judgment creditor may, for the judgment creditor's
own use and benefit and at the judgment creditor's sole expense,
bring an action in the name of the state against the company that
executed the bond.
As added by P.L.2-1991, SEC.13.
Last modified: May 27, 2006