Official Code of Georgia Annotated

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

10-7-57. Substitution in place of creditor as to securities held by creditor.

Active

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

A surety who has paid the debt of his principal shall also be entitled to be substituted in place of the creditor as to all securities held by him for the payment of the debt.

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

Orig. Code 1863, § 2156; Code 1868, § 2151; Code 1873, § 2177; Code 1882, § 2177; Civil Code 1895, § 2996; Civil Code 1910, § 3568; Code 1933, § 103-502.

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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, pages 1237 to 1238; merge action: carried; file SHA-256 7afbade16da7.