California § 996.460. 996.460. (Added by Stats. 1982, Ch. 998, Sec. 1.)

California Statutes

§ 996.460. — 996.460. (Added by Stats. 1982, Ch. 998, Sec. 1.)

California·Code CCP Code of Civil Procedure - CCP·Title 14.·Part 2. TITLE 14. OF MISCELLANEOUS PROVISIONS·Ch. 2. CHAPTER 2. Bonds and Undertakings·Art. 14. ARTICLE 14. Liability of Principal and Sureties

(a)Notwithstanding Section 2845 of the Civil Code, a judgment of liability on a bond shall be in favor of the beneficiary and against the principal and sureties and shall obligate each of them jointly and severally.

(b)The judgment shall be in an amount determined by the court.

(c)A judgment that does not exhaust the full amount of the bond decreases the amount of the bond but does not discharge the bond. The liability on the bond may be enforced thereafter from time to time until the amount of the bond is exhausted.

(d)The judgment may be enforced by the beneficiary directly against the sureties. Nothing in this section affects any right of subrogation of a surety against the principal or any right of a surety to compel the principal to satisfy the judgment.

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(a)
Notwithstanding Section 2845 of the Civil Code, a judgment of liability on a bond shall be in favor of the beneficiary and against the principal and sureties and shall obligate each of them jointly and severally.
(b)
The judgment shall be in an amount determined by the court.
(c)
A judgment that does not exhaust the full amount of the bond decreases the amount of the bond but does not discharge the bond. The liability on the bond may be enforced thereafter from time to time until the amount of the
bond is exhausted.
(d)
The judgment may be enforced by the beneficiary directly against the sureties. Nothing in this section affects any right of subrogation of a surety against the principal or any right of a surety to compel the principal to satisfy the judgment.

California § 996.460. (996.460. (Added by Stats. 1982, Ch. 998, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.