A surety who has paid his principal's debt is entitled to a transfer of the original and collateral security which the creditor holds; he has all the rights to realize thereon and to reimburse himself to the same extent as the creditor might have done before the surety paid him, whether paid before or after judgment; and he shall be substituted for the creditor and subrogated to all his rights and remedies; in effect, he shall be a purchaser of the debt and all its incidents.
Structure Code of Alabama
Title 8 - Commercial Law and Consumer Protection.
Article 1 - General Provisions.
Section 8-3-1 - Relationship of Joint Makers of Notes, Bills, Etc.
Section 8-3-2 - Rights of Surety Who Has Paid Debt.
Section 8-3-3 - Remedies Given Sureties Not Exclusive.
Section 8-3-4 - Tender by Surety Discharges Surety.
Section 8-3-5 - Rights of Surety Against Principal Upon Payment of Debt.
Section 8-3-6 - Suretyship May Be Proved by Parol.
Section 8-3-7 - Rights of Surety Sued Separately and Paying Judgment.
Section 8-3-8 - Payments by Surety Pending Action.
Section 8-3-9 - Contribution by Cosureties.
Section 8-3-10 - Control of Judgment by Endorser Upon Payment of Debt.
Section 8-3-11 - Surety Paying Debt Subrogated to Rights of Creditor.
Section 8-3-12 - When Surety Not to Confess Judgment.
Section 8-3-14 - Provisions of Chapter Inure to Benefit of Personal Representatives.