Satisfaction of judgment by security — Judgment for amount paid — Interest

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  7. Satisfaction of judgment by security — Judgment for amount paid — Interest

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  1. (a) After the return of an execution, satisfied in whole or in part out of the property of a security, the security shall be entitled to a judgment, upon motion, against the principal for the amount so paid by the security, together with interest thereon at the rate of ten percent (10%) per annum from the time of payment.

  2. (b) The motion must be made within one (1) year after the return day of execution, and the return of the officer shall be evidence upon the hearing of the motion of the facts stated therein.


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