(a) If a contingent claim shall have been presented and allowed against an estate and all the assets of the estate including the fund, if any, set apart for the payment thereof shall have been distributed, and the claim shall thereafter become absolute, then the creditor shall have the right to recover thereon in a court having equitable jurisdiction against those distributees whose distributive shares have been increased by reason of the fact that the amount of the claim as finally determined was not paid out prior to final distribution, provided an action therefor shall be commenced within the time permitted by law for bringing an action.
(b) The distributees shall be jointly and severally liable, but no distributee shall be liable for an amount exceeding the value of the estate or fund so distributed to him or her.
(c) If more than one (1) distributee is liable to the creditor, he or she shall make all distributees who can be reached by process parties to the action.
(d) (1) By its judgment, the court shall determine the amount of the liability of each of the defendants as between themselves.
(2) However, if any defendant is insolvent or unable to pay his or her proportion, or is beyond the reach of process, the others, to the extent of their respective liabilities, nevertheless shall be liable to the creditor for the whole amount of his or her debt.
(3) If any person liable for the debt fails to pay his or her just proportion to the creditor, he or she shall be liable to indemnify all who, by reason of the failure on his or her part, have paid more than their just proportion of the debt, the indemnity to be recovered in the same action or in separate actions.
Section: Previous 28-50-102 28-50-103 28-50-104 28-50-105 28-50-106 28-50-107 28-50-108 28-50-109 28-50-110 28-50-111 28-50-112 28-50-113 28-50-114 NextLast modified: November 15, 2016