1. (a) Any personal property taken in execution may be returned to the execution defendant by the sheriff, upon the delivery by the defendant to the sheriff of a written undertaking described in subsection (b).

2. (b) The written undertaking must be:

   1. (1) payable to the execution plaintiff, with sufficient surety to be approved by the sheriff; and

   2. (2) to the effect that the property shall be delivered to the sheriff at a time and place named in the undertaking, to be sold:

      1. (A) according to law; or

      2. (B) for the payment to the sheriff of the fair value of the property.

         [Pre-1998 Recodification Citation: 34-1-38-1.]

As added by P.L.1-1998, SEC.51. Amended by P.L.45-2016, SEC.24.