The defendant or other person who has possession of attached property may have the property, or any part of the property, delivered to the defendant or person by executing and delivering to the sheriff a written undertaking, with surety, to be approved by the sheriff, payable to the plaintiff, to the effect that:

1. (1) the property shall be:

   1. (A) properly kept and taken care of; and
   2. (B) delivered to the sheriff on demand, or so much of the property as may be required to be sold on execution to satisfy any judgment that may be recovered against the defendant or person in the action; or

2. (2) the defendant or person will pay the appraised value of the property, not exceeding the amount of the judgment and costs.

   [Pre-1998 Recodification Citation: 34-1-11-13.]

As added by P.L.1-1998, SEC.20.