Official Code of Georgia Annotated

Title 10. COMMERCE AND TRADE · Chapter 7. SURETYSHIP · Article 3. RIGHTS OF SURETY AGAINST PRINCIPAL, COSURETIES, AND THIRD PERSONS

10-7-50. Compelling contribution from cosureties after paying more than equal share; effect of cosurety’s insolvency.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Where several are sureties for the same principal for the same sum of money, either by one or by distinct instruments, and one pays more than an equal share of the sum, he may compel contribution from his cosureties. If one of the cosureties is insolvent, the deficiency in his share must be borne equally by the solvent sureties.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Laws 1840, Cobb’s 1851 Digest, p. 597.; Code 1863, § 2151; Code 1868, § 2146; Code 1873, § 2173; Code 1882, § 2173; Civil Code 1895, § 2992; Civil Code 1910, § 3564; Code 1933, § 103-401.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t10-(v8)-2024-pdf.pdf, Volume V8, 2024 edition, page 1223; merge action: carried; file SHA-256 7afbade16da7.