§ 10-7-57. Subrogation to Rights of Creditor — as to Securities Held by Creditor
A surety who has paid the debt of his principal shall also be entitled to be substituted in place of the creditor as to all securities held by him for the payment of the debt. History. Orig. Code 1863, § 2156; Code 1868, § 2151; Code 1873, § 2177; Code 1882, § 2177; Civil Code […]
§ 10-7-30. Bad Faith Refusal of Corporate Surety to Perform Suretyship Contract
For the purposes of this Code section, the term “obligee” shall include any obligee or beneficiary pursuant to the terms of the contract of suretyship. In the event of the refusal of a corporate surety to commence the remedy of a default covered by, to make payment to an obligee under, or otherwise to commence […]
§ 10-7-54. Endorser’s Right to Control Judgment on Debt and Execution Thereon
Every endorser who shall pay off and discharge the debt on which he is endorser, either pending the action or after judgment, whether the judgment against the principal and the endorsers is joint or several, shall be entitled to control the judgment and execution founded thereon against the principal and all prior endorsers, in the […]
§ 10-7-31. Rights of Certain Parties Claiming Protection Under a Payment Bond or Security Deposit; Notice of Commencement of Work
Where a payment bond or security deposit is provided pursuant to a contract for the construction of an improvement to property other than a public work, every person entitled to claim the protection of the payment bond or security deposit who has not been paid in full for labor or material furnished in the prosecution […]
§ 10-7-55. Protection of Bona Fide Purchasers When Surety Controls Judgment
When the surety does not appear to be such in the judgment and execution, the lien of such judgment, when controlled by the surety, shall not interfere with bona fide purchasers without notice from the principal, whose rights were vested before the order giving control to the surety was granted. History. Laws 1845, Cobb’s 1851 […]
§ 10-7-40. Attachment Against Principal
A surety or endorser is entitled to the process of attachment against his principal before payment of the debt under the same circumstances as any other creditor. History. Orig. Code 1863, § 2138; Code 1868, § 2133; Code 1873, § 2160; Code 1882, § 2160; Civil Code 1895, § 2979; Civil Code 1910, § 3551; […]
§ 10-7-56. Subrogation to Rights of Creditor — Priority of Claim
A surety who has paid the debt of his principal shall be subrogated, both at law and in equity, to all the rights of the creditor and, in a controversy with other creditors, shall rank in dignity the same as the creditor whose claim he paid. History. Ga. L. 1857, p. 111, § 4; Code […]
§ 10-7-41. Action for Money Paid, Interest, and Costs — Right of Surety or Endorser
Payment by a surety or endorser of a debt past due shall entitle him to proceed immediately against his principal for the sum paid, with interest thereon, and all legal costs to which he may have been subjected by the default of his principal. History. Orig. Code 1863, § 2139; Code 1868, § 2134; Code […]
§ 10-7-42. Action for Money Paid, Interest, and Costs — Effect of Judgment Against Surety
If the payment was made after judgment and the principal had notice of the pendency of the action against the surety, the amount of such judgment shall be conclusive against the principal as to the amount for which the surety was bound. If the payment was not made after judgment, the principal may dispute the […]
§ 10-7-43. Action for Money Paid, Interest, and Costs — Recovery of Usury Paid by Surety
If the contract was originally usurious and the surety in making payment includes the usury, he shall recover the same from the principal unless previous to the payment he had notice of the intention of the principal to resist usury. History. Orig. Code 1863, § 2141; Code 1868, § 2136; Code 1873, § 2163; Code […]