Arizona Revised Statutes § 12-1643 Subrogation Of Surety To Rights Of Judgment Creditor; Execution Against Debtor

12-1643. Subrogation of surety to rights of judgment creditor; execution against debtor

A. When a person who is surety on an undertaking is compelled to pay a judgment or part thereof, or makes a payment upon a judgment by reason of suretyship, such judgment shall not be discharged by such payment but shall remain in force for the use of the surety and shall be considered as assigned to the surety together with all rights of the creditor thereunder to the extent of the payment made by the surety, and interest thereon.

B. The surety may have execution issued on the judgment in the name of the creditor for use of such surety against the principal debtor for the full amount of the payment, interest thereon, and all costs.

C. The execution shall be issued upon the application of the surety to the clerk or court, and shall be levied, collected and returned as in other cases.

Section: Previous  12-1631  12-1632  12-1633  12-1634  12-1635  12-1641  12-1642  12-1643  12-1644  12-1645  12-1646  12-1701  12-1702  12-1703  12-1704  Next

Last modified: October 13, 2016