Surety's recovery of interest on debt paid
Sec. 10. 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.
As added by P.L.1-1998, SEC.17.
Last modified: May 24, 2006