(a) Except as otherwise provided in the instrument, two (2) or more persons who have the same liability on an instrument as makers, drawers, acceptors, indorsers who indorse as joint payees, or anomalous indorsers are jointly and severally liable in the capacity in which they sign.
(b) Except as provided in § 4-3-419(e) or by agreement of the affected parties, a party having joint and several liability who pays the instrument is entitled to receive from any party having the same joint and several liability contribution in accordance with applicable law.
(c) [Repealed.]
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
Chapter 3 - Negotiable Instruments
Part 1 - General Provisions and Definitions
§ 4-3-104. Negotiable instrument
§ 4-3-105. Issue of instrument
§ 4-3-106. Unconditional promise or order
§ 4-3-107. Instrument payable in foreign money
§ 4-3-108. Payable on demand or at definite time
§ 4-3-109. Payable to bearer or to order
§ 4-3-110. Identification of person to whom instrument is payable
§ 4-3-114. Contradictory terms of instrument
§ 4-3-115. Incomplete instrument
§ 4-3-116. Joint and several liability — Contribution
§ 4-3-117. Other agreements affecting instrument