§ 15-401. Subrogation of surety
West's Annotated Code of MarylandCommercial Law
MD Code, Commercial Law, § 15-401
§ 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 name against the principal debtor.
Credits
Added by Acts 1975, c. 49, § 3, eff. July 1, 1975.
Formerly Art. 8, § 3.
MD Code, Commercial Law, § 15-401, MD COML § 15-401
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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