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It has come to the attention of the Indiana Secretary of State- Auto Dealer Services Division (“Division”) that many bond companies are using forms that contain inconsistent language and outdated statutory language and citations. The Division will no longer accept the outdate bond form (former State Form 53966).
In an effort to meet statutory requirements, satisfy all parties involved, and maintain consistency, the Division has created a temporary “form document”. The “form document” found below will be accepted by the Division until an official state form can be completed. The process for creating an official state form takes several weeks. Therefore, we expect to have an official state form in June 2014.
Please begin using the “form document” immediately. If the surety cannot agree to the terms in the attached document, the Division will allow variations pre-approved by the Division’s legal department. Those approval requests can be sent to email@example.com. Please know the “form document” will be accepted with applications immediately and the approval process for varying forms will be more time consuming.
Any bonds with an issue date of May 21, 2014 or after must be on the form document or a Division approved form. The Division will not accept any other forms or outdated forms with the issue date of May 21, 2014 or later.