Section 68IAC1-1-89. "Surety bond" defined

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"Surety bond" means a contractual arrangement between the surety, the principal, and the obligee that the surety agrees to protect the obligee if the principal defaults in performing the principal's contractual obligation. The bond is the instrument that bonds the surety. (Indiana Gaming Commission; 68 IAC 1-1-89; filed Nov 10, 1994, 11:00 a.m.: 18 IR 479; readopted filed Oct 15, 2001, 4:34 p.m.: 25 IR 898; readopted filed Sep 14, 2007, 1:40 p.m.: 20071003-IR-068070354RFA; readopted filed Nov 26, 2013, 3:58 p.m.: 20131225-IR-068130354RFA)

                    
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