Indiana Code 14-26-8-40. Contractor’s bond; aggregate liability of surety

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Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

Sec. 40. The aggregate liability of the surety on a bond for all liabilities may not exceed the penalty of the bond.

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

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