CC 3042
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/la/3042A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
CC 3042
Art. 3042. Commercial suretyship
A commercial suretyship is one in which:
(1)The surety is engaged in a surety business;
(2)The principal obligor or the surety is a business corporation, partnership, or other business entity;
(3)The principal obligation arises out of a commercial transaction of the principal obligor; or
(4)The suretyship arises out of a commercial transaction of the surety.
Acts 1987, No. 409, §1, eff. Jan. 1, 1988.