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IN HB1021

Bill

Status

Engrossed

1/23/2018

Primary Sponsor

Gerald Torr

Click for details

Origin

House of Representatives

2018 Regular Session

AI Summary

Legislative Description

Mechanic's liens. Permits a person to discharge a mechanic's lien by filing an indemnification or payment bond with the recorder's office in an amount equal to at least 150% of the lien. Requires the surety responsible for issuing an indemnification or payment bond to: (1) be authorized to do business in Indiana; and (2) be rated at least "A-" by at least one (1) nationally recognized investment rating service. Specifies certain requirements concerning the recording of an indemnification or payment bond. Repeals the current statute concerning the filing of an undertaking to discharge a lien.

Last Action

First reading: referred to Committee on Civil Law

2/1/2018

Committee Referrals

Civil Law2/1/2018
Judiciary1/3/2018

Full Bill Text

No bill text available