Statutes, codes, and regulations
CODE OF GEORGIA
Title 10 - COMMERCE AND TRADEChapter 7 - SURETYSHIP
Article 3 - RIGHTS OF SURETY AGAINST PRINCIPAL, COSURETIES, AND THIRD PERSONS
Section 10-7-50 - Compelling contribution - After paying more than equal share; effect of surety's insolvency

Ga. Code § 10-7-50

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Current through 2023-2024 Legislative Session Chapter 374
Section 10-7-50 - Compelling contribution - After paying more than equal share; effect of surety's insolvency

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.

OCGA § 10-7-50