Every surety for the release of a person on bail shall be qualified as:

1. (1) an insurer as defined and meeting the qualifications prescribed in IC 27-1-5-1 , and represented by a bail agent as defined in and meeting the qualifications prescribed in this article; or

2. (2) a person who:

   1. (A) has reached the age of eighteen (18) years;
   2. (B) is a citizen of the United States;
   3. (C) has been a bona fide resident of Indiana for at least one (1) year immediately preceding the execution of the bond;
   4. (D) is related to the person for whom release on bail is sought within the third degree of affinity; and
   5. (E) owns real or tangible personal property in Indiana with a net asset value that is acceptable to the proper authority approving the bond.

As added by P.L.261-1985, SEC.1. Amended by P.L.224-1993, SEC.6.