Section 15-401 – Subrogation of Surety

    If a surety in any bond or other obligation for the payment of money or a promissory note, or the endorser of a protested draft, pays or tenders the money due on it in full, he is entitled to an assignment of it and, by virtue of the assignment, may maintain an action in his […]

Section 15-402 – Action by Assignee on Obligation Under Seal

    (a)    Subject to the provisions of subsection (d) of this section, the assignee of a bond or other obligation under seal which was assigned under the assignor’s signature and seal, may maintain an action in his name against the obligor named in the bond or other obligation.     (b)    Except as provided in subsection (c) of this section, […]