Indiana Statutes
§ 34-22-1-10 — Surety's recovery of interest on debt paid
Indiana·Title 34 CIVIL LAW AND PROCEDURE·Art. 22 CAUSES OF ACTION: SURETY'S REMEDIES·Ch. 1 Remedies of Sureties Against Their Principals
When a surety on a bill, note, bond, or other
instrument in writing, is compelled to pay the debt or obligation of the
principal debtor, the surety shall recover the rate of interest on the
amount paid by the surety for the principal, as was originally provided
for in the bill, note, bond, or other instrument in writing, held against
the principal debtor. The judgment given to the surety bears the same
rate of interest, not exceeding ten percent (10%) per year.
[Pre-1998 Recodification Citation: 34-1-55-10.]
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Legislative History
As added by P.L.1-1998, SEC.17.
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