Sec. 1. (a) Any personal property taken in execution may be returned to the execution defendant by the sheriff, upon the delivery by the defendant to the sheriff of a written undertaking described in subsection (b). (b) The written undertaking must be: (1) payable to the execution plaintiff, with sufficient surety to be approved by the sheriff; and (2) to the effect that the property shall be delivered to the sheriff at a time and place named in the undertaking, to be sold: (A) according to law; or (B) for the payment to the sheriff of the fair value of the property. [Pre-1998 Recodification Citation: 34-1-38-1.]
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