§ 16.4102

Subrogation of surety satisfying judgment. Where a person recovers a judgment or money decree against the principal debtor and a surety or indorser, and the judgment is satisfied by the surety or indorser, the latter may have the judgment or money decree entered by the clerk to his use and have execution in his own name against the principal, and where a judgment or money decree is rendered against several sureties and one of them satisfies the whole debt, the surety satisfying the judgment may have the judgment or decree entered to his use, have execution against each of the other sureties in the judgment or decree for a proportionate part of the debt so paid by him. On the motion of the surety so paying the entire debt and notice to the other sureties, the court may determine for what amount execution shall issue against each of the other sureties. (Dec. 23, 1963, 77 Stat. 612, Pub. L. 88-241, § 1.) Prior Codifications 1981 Ed., § 16-4102. 1973 Ed., § 16-4102.