Section 25-37-1-5.5 - Reduction and waiver of surety bond(a) Notwithstanding section 5 of this chapter, a county legislative body (as defined in IC 36-1-2-9 ) may annually: (1) set the amount of the bond required under section 5 of this chapter in any amount that is not greater than the amount required in section 5 of this chapter; or(2) waive the bond required under section 5 of this chapter.(b) A county legislative body that reduces or waives the bond under subsection (a) must inform the auditor of the county of the following: (1) Whether a bond is required to be filed with an application with the auditor for a transient merchant license.(2) The amount of the bond if a bond is required.(c) An applicant filing for a transient merchant license must do the following: (1) If filing for a transient merchant license with a county auditor who has been informed of a reduced bond under subsection (b), the applicant must file: (B) the bond; with the county auditor.
(2) If filing for a transient merchant license with a county auditor who has been informed that a bond has been waived under subsection (b), the applicant must file only an application.(d) A bond required under subsection (a)(1), although not in the amount required under section 5 of this chapter, will for all other purposes be treated like a bond issued under section 5 of this chapter.As added by P.L. 221-1993, SEC.2.