Such an insurer as surety on any official bond, undertaking, or obligation is entitled to all the rights and remedies of other sureties on such instruments; and any insurer becoming surety on any bond or undertaking, as authorized by this chapter, shall have the same right to be relieved from further liability thereon or to require the principal to give new or additional bonds or undertakings as is conferred by law upon the other sureties on like bonds or undertakings.
Structure Code of Alabama
Chapter 24 - Surety Insurance Contracts.
Section 27-24-1 - Applicability of Chapter.
Section 27-24-2 - Sole Surety - Corporations.
Section 27-24-3 - Sole Surety - Mutual or Reciprocal Surety Insurers.
Section 27-24-4 - Sole Surety - Cosureties on Bond of State Treasurer.
Section 27-24-5 - Additional Bond Upon Insolvency, etc., of Surety.
Section 27-24-6 - Venue of Actions on Bonds or Undertakings.
Section 27-24-7 - Estoppel of Insurer to Deny Its Power, Etc.