Sec. 4. Every surety for the release of a person on bail shall be qualified as: (1) an insurer as defined and meeting the qualifications prescribed in IC 27-1-5-1 , and represented by a bail agent as defined in and meeting the qualifications prescribed in this article; or (2) a person who: (A) has reached the age of eighteen (18) years; (B) is a citizen of the United States; (C) has been a bona fide resident of Indiana for at least one (1) year immediately preceding the execution of the bond; (D) is related to the person for whom release on bail is sought within the third degree of affinity; and (E) owns real or tangible personal property in Indiana with a net asset value that is acceptable to the proper authority approving the bond.
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