North Carolina General Statutes Chapter 26 Suretyship

• N.C. Gen. Stat. § 26-1.   Surety and principal distinguished in judgment and execution
  In the trial of actions upon contracts either of the defendants may show in evidence that he is surety, and if it be satisfactorily...
• N.C. Gen. Stat. § 26-2.   Principal liable on execution before surety
  When an execution, indorsed as aforesaid, shall come to the hands of any officer for collection, he shall levy on all the property of...
• N.C. Gen. Stat. § 26-3.   Summary remedy of surety against principal
  Any person who may have paid money for and on account of those for whom he became surety, upon producing to the clerk of...
• N.C. Gen. Stat. § 26-3.1.   Surety's recovery on obligation paid; no assignment necessary
  (a) A surety who has paid his principal's note, bill, bond or other written obligation, may either sue his principal for reimbursement or sue...
• N.C. Gen. Stat. § 26-4.   Subrogation of surety paying debt of deceased principal
  Whenever a surety, or his representative, shall pay the debt of his deceased principal, the claim thus accruing shall have such priority in the...
• N.C. Gen. Stat. § 26-5.   Contribution among sureties
  Where there are two or more sureties for the performance of a contract, and one or more of them may have been compelled to...
• N.C. Gen. Stat. § 26-6.   Dissenting surety not liable to surety on stay of execution
  Whenever any judgment shall be obtained against a principal and his surety, and the principal debtor shall desire to stay the execution thereon, but...
• N.C. Gen. Stat. § 26-7.   Surety, indorser, or guarantor may notify creditor to take action
  (a) After any note, bill, bond, or other obligation becomes due and payable, any surety, indorser, or guarantor thereof may give written notice to...
• N.C. Gen. Stat. § 26-8.   Notice; how given; prima facie evidence thereof
  (a) Any notice authorized or required to be given by G.S. 26-7 shall- (1) Be served by the sheriff by delivering a copy thereof...
• N.C. Gen. Stat. § 26-9.   Effect of failure of creditor to take action
  (a) If the holder or owner of the obligation refuses or fails, within 30 days from the service or receipt of such notice, to...
• N.C. Gen. Stat. § 26-10.   Repealed by Session Laws 1943, c. 543
• N.C. Gen. Stat. § 26-11.   Cancellation of judgment as to surety
  Whenever a judgment shall be rendered in any court in accordance with the provisions of G.S. 26-1 and the surety, endorser or other person...
• N.C. Gen. Stat. § 26-12.   Joinder of debtor by surety
  (a) As used in this section, "surety" includes guarantors, accommodation makers, accommodation indorsers, or others who undertake liability on the obligation and for the...

Last modified: March 23, 2014