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16-107-304. Action against cosurety.
Arkansas Code — all titles (historical 2020) · legal_authorities
16-107-304. Action against cosurety.
(a) When there are two (2) or more securities in the bond, bill, or note and any of them shall pay in money or property, more than his or her due proportion of the original demand, the security may recover the excess in the same form of action as provided in this subchapter for a security against the principal debtor.
(b) No security shall be compelled in any action, as specified in subsection (a) of this section, to pay more than his or her due proportion of the original demand. When the security shall have previously paid any part thereof, he or she shall be liable in the action to pay only so much as the amount already paid by him or her falls short of his or her due proportion of the original demand.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 16-107-304
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:16-107-304
Source file: gov.ar.code.title.16.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 82ad7114554208198032cec779a834a558f45c96bac9f21a314b0872adc5c987
Source location: content.xml paragraph 42722
Stored source content
16-107-304. Action against cosurety.
(a) When there are two (2) or more securities in the bond, bill, or note and any of them shall pay in money or property, more than his or her due proportion of the original demand, the security may recover the excess in the same form of action as provided in this subchapter for a security against the principal debtor.
(b) No security shall be compelled in any action, as specified in subsection (a) of this section, to pay more than his or her due proportion of the original demand. When the security shall have previously paid any part thereof, he or she shall be liable in the action to pay only so much as the amount already paid by him or her falls short of his or her due proportion of the original demand.
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