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O.C.G.A. § 10-7-52 — Compelling contribution - Duty to account for indemnification from principal; compelling transfer of security from principal | Georgia Code

O.C.G.A. § 10-7-52 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 10 COMMERCE AND TRADE

Section 7. Suretyship, 10-7-1 through 10-7-57.

ARTICLE 3 RIGHTS OF SURETY AGAINST PRINCIPAL, COSURETIES, AND THIRD PERSONS

10-7-52. Compelling contribution - Duty to account for indemnification from principal; compelling transfer of security from principal.

A surety suing for contribution must first account for all money or other things received from the principal to indemnify him against loss; and, if he has paid the entire debt, he may compel his cosurety to transfer to him any mortgage or other security taken from the principal for the protection of such cosurety, by relieving him of all liability for contribution.

(Orig. Code 1863, § 2153; Code 1868, § 2148; Code 1873, § 2175; Code 1882, § 2175; Civil Code 1895, § 2994; Civil Code 1910, § 3566; Code 1933, § 103-403.)

RESEARCH REFERENCES

ALR.

- Rights and liabilities as between sureties on successive bonds given by executor, administrator, trustee, or guardian, 76 A.L.R. 904.

Right of surety to share in benefit of security or indemnity taken by another surety on or before becoming such, 95 A.L.R. 305.

Validity, construction, and application of guaranty of corporate stock, or dividends thereon, by one other than corporation, 107 A.L.R. 1171.

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