28-11-417. Surety's right to reimbursement and contribution.
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/mt/title-28/chapter-11/part-4/28-11-417·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
28-11-417 . Surety's right to reimbursement and contribution.
(1)If a surety satisfies the principal obligation or any part of the principal obligation, whether with or without legal proceedings, the principal is bound to reimburse what the surety has disbursed, including necessary costs and expenses, but the surety does not have a claim for reimbursement against other persons, even though they may have been benefited by the surety's act, except as prescribed by subsection (2).
(2)A surety, upon satisfying the obligation of the principal, is entitled to enforce every remedy that the creditor then has against the principal to the extent of reimbursing what the surety has expended and also to require all cosureties to contribute to the reimbursement without regard to the order of time in which they became cosureties.