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IN HB1021
Bill
Status
Engrossed
1/23/2018
Primary Sponsor
Gerald Torr
Click for details
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