[§657D-3] Protection of persons secondarily liable.

342 words·~2 min read·/hi/657d-3

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Whenever:

(1)The enforcement of any obligation or liability;

(2)The prosecution of any suit or proceeding;

(3)The entry or enforcement of any order, writ, judgment, or decree; or

(4)The performance of any other act;

may be stayed, postponed, or suspended, the stay, postponement, or suspension may likewise be granted in the discretion of the court to sureties, guarantors, endorsers, accommodation makers, and others, whether primarily or secondarily subject to the obligation or liability that is stayed, postponed, or suspended.

(b)When a judgment or decree is vacated or set aside in whole or in part as provided in this chapter, the court in its discretion may likewise set aside and vacate it as to any surety, guarantor, endorser, accommodation maker, or other person, whether primarily or secondarily liable upon the contract or liability for the enforcement of which the judgment or decree was entered.

(c)Whenever by reason of the military service of a principal, the sureties of a criminal bail bond are prevented from enforcing the attendance of their principal and performing their obligation, the court shall not enforce the provisions of the bond during the military service of that principal. The court, in accordance with principles of equity and justice, may discharge those sureties and exonerate the bail either during or after such service.

(d)Nothing in this chapter shall prevent a waiver in writing of the benefits afforded by subsections

(a)and

(b)by any surety, guarantor, endorser, accommodation maker, or other person whether primarily or secondarily liable upon the obligation or liability, except that no such waiver shall be valid unless it is executed as an instrument separate from the obligation or liability in respect of which it applies. No such waiver shall be valid after the beginning of the period of military service if executed by:

(1)An individual who subsequent to the execution of that waiver becomes a person in military service; or

(2)A dependent of the individual. [L 1994, c 257, pt of §2]