36-1-9.5-17. "Surety" defined

IN Code § 36-1-9.5-17 (2019) (N/A)
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Sec. 17. As used in this chapter, "surety" means a corporate body bound with and for the contractor for the following:

(1) The full and complete performance of the contract.

(2) The payment of all debts related to the work.

As added by P.L.85-1991, SEC.3.