Limitation upon right of contribution

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A surety who pays the creditor more than his share may recover the excess from his co-sureties in proportion to the amount of the obligation each is to bear as to him. If a surety obtains the conventional discharge of other co-sureties by paying the creditor, any reduction in the amount owed by those released benefits them proportionately.

Acts 1987, No. 409, §1, eff. Jan. 1, 1988.


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