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.
(Laws 1840, Cobb's 1851 Digest, p. 597; Code 1863, § 2151; Code 1868, § 2146; Code 1873, § 2173; Code 1882, § 2173; Civil Code 1895, § 2992; Civil Code 1910, § 3564; Code 1933, § 103-401.)
RESEARCH REFERENCES
Am. Jur. 2d.
- 74 Am. Jur. 2d, Suretyship, § 147 et seq.
C.J.S.- 72 C.J.S., Principal and Surety, § 226 et seq.
ALR.
- Exhaustion of remedies against, or insolvency of, principal as condition of enforcing contribution between coguarantors or cosureties, 29 A.L.R. 273.
Right to contribution or indemnity of executor, administrator, guardian, testamentary trustee, or sureties against a cofiduciary or sureties, in respect of losses or defaults for which the fiduciaries are answerable, 66 A.L.R. 1147.
Right of surety or guarantor who pays judgment to preservation thereof as against his cosureties or coguarantors, 71 A.L.R. 300.
Rights and liabilities as between sureties on successive bonds given by executor, administrator, trustee, or guardian, 76 A.L.R. 904.
Transmission of fund from ancillary to domiciliary jurisdiction, or liability of sureties on bond given in the latter jurisdiction, as affecting liability of sureties on bond given in the former jurisdiction, 78 A.L.R. 575.
Joinder in one action of sureties on different bonds relating to same matter, 106 A.L.R. 90; 137 A.L.R. 1044.
Rights and liabilities as between sureties on successive bonds given in course of litigation, 117 A.L.R. 583.
Right of one cojudgment debtor who pays judgment to be subrogated thereto as against the other cojudgment debtors, 157 A.L.R. 495.
Right of surety on recognizance or bail bond to indemnity or contribution, 170 A.L.R. 1161.
Limitation by surety of amount of his liability as affecting liability to contribution, 172 A.L.R. 1447.
Apportionment of liability between automobile liability insurers one or more of whose policies provide against any liability if there is other insurance, 46 A.L.R.2d 1163.
Right of guarantor or surety, in order to avoid paying amount in excess of his proportionate share, to compel coguarantors or cosureties to pay their share to creditor, 38 A.L.R.3d 680.