Surety entitled to benefit of security held by creditor or cosurety

1. Law
2. Montana Code Annotated
3. Contracts and Other Obligations
4. Guaranty, Indemnity, and Suretyship
5. Suretyship
6. Surety entitled to benefit of security held by creditor or cosurety

28-11-418. Surety entitled to benefit of security held by creditor or cosurety. A surety is entitled to the benefit of every security for the performance of the principal obligation held by the creditor or by a cosurety at the time of entering into the contract of suretyship or acquired by the creditor or cosurety afterwards, whether the surety was aware of the security or not.

History: En. Sec. 3695, Civ. C. 1895; re-en. Sec. 5692, Rev. C. 1907; re-en. Sec. 8207, R.C.M. 1921; Cal. Civ. C. Sec. 2849; Field Civ. C. Sec. 1570; re-en. Sec. 8207, R.C.M. 1935; R.C.M. 1947, 30-506; amd. Sec. 837, Ch. 56, L. 2009.

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