14-34-7-7. Indemnity Agreement
Sec. 7. If the director accepts an applicant’s self-bond, an indemnity agreement shall be submitted to the director. The indemnity agreement must meet the following requirements: (1) The indemnity agreement must provide in express terms that the persons or parties bound by the agreement are liable to the director for all costs incurred by the […]
14-34-7-7.1. Collateral and Indemnity Agreement to Support Self-Bond Application
Sec. 7.1. (a) If an application for self-bonding is rejected based on the information required by section 4 of this chapter or limitations set forth in section 4 of this chapter, the applicant may offer collateral (as defined in section 0.5 of this chapter) and an indemnity agreement to support the applicant’s self-bond application. An […]
14-34-7-8. Updated Information for Self-Bond or Corporate Guarantee
Sec. 8. The director shall require self-bonded applicants and corporate guarantors to submit: (1) an update of the information required under section 4(d)(7), 4(d)(8), and 4(f) of this chapter within ninety (90) days after the close of each fiscal year; and (2) information required under section 4(d)(8)(B) of this chapter on a quarterly basis not […]
14-34-7-9. Change in Financial Condition
Sec. 9. (a) If at any time during the period when a self-bond is posted, the financial conditions of the applicant or the corporate guarantor change so that the criteria of sections 4(d)(7), 4(f), and 6 of this chapter are no longer satisfied, the permittee shall do the following: (1) Notify the director immediately. (2) […]
14-34-7-0.5. “Collateral” Defined
Sec. 0.5. As used in this chapter, “collateral” means the actual or constructive deposit, as appropriate, with the director of one (1) or more of the following types of property in support of a self-bond: (1) A perfected, first-lien security interest in favor of the department of natural resources in real property located in Indiana […]
14-34-7-0.6. “Comparative Balance Sheet” Defined
Sec. 0.6. As used in this chapter, “comparative balance sheet” means item accounts from a number of the operator’s successive yearly balance sheets arranged side by side in a single statement. As added by P.L.176-1995, SEC.9.
14-34-7-0.7. “Comparative Income Statement” Defined
Sec. 0.7. As used in this chapter, “comparative income statement” means an operator’s income statement amounts for a number of successive yearly periods arranged side by side in a single statement. As added by P.L.176-1995, SEC.10.
14-34-7-1. “Liabilities” Defined
Sec. 1. As used in this chapter, “liabilities” means obligations to transfer assets or provide services to other entities in the future as a result of past transactions. The term does not include amounts that are required to be recorded for financial accounting purposes under Statement of Financial Accounting Standards number 106 issued by the […]
14-34-7-2. “Net Worth” Defined
Sec. 2. As used in this chapter, “net worth”: (1) means: (A) total assets; minus (B) total liabilities; and (2) is equivalent to owners’ equity. [Pre-1995 Recodification Citation: 13-4.1-6.3-6.] As added by P.L.1-1995, SEC.27.