14-26-8-37. Contractor's bond; requirement

IN Code § 14-26-8-37 (2019) (N/A)
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Sec. 37. A person who has successfully bid for the whole or a part of the work shall, when the work is awarded to the person, do the following:

(1) Enter into a contract with the surveyor to perform the work.

(2) Give bond that:

(A) must be approved by the court;

(B) is payable to the state; and

(C) is in a proper penalty for the performance of the contract;

that the person will pay all damages occasioned by nonfulfillment of the contract. The damages may be recovered in a court with jurisdiction.

[Pre-1995 Recodification Citation: 13-2-18-15 part.]

As added by P.L.1-1995, SEC.19.