Indiana Code § 14-26-8-37

Contractor's bond; requirement
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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.]

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