Sec. 10. When a surety on a bill, note, bond, or other instrument in writing, is compelled to pay the debt or obligation of the principal debtor, the surety shall recover the rate of interest on the amount paid by the surety for the principal, as was originally provided for in the bill, note, bond, or other instrument in writing, held against the principal debtor. The judgment given to the surety bears the same rate of interest, not exceeding ten percent (10%) per year.
[Pre-1998 Recodification Citation: 34-1-55-10.]
As added by P.L.1-1998, SEC.17.
Structure Indiana Code
Title 34. Civil Law and Procedure
Article 22. Causes of Action: Surety's Remedies Against Principal
Chapter 1. Remedies of Sureties Against Their Principals
34-22-1-2. Discharge of Surety
34-22-1-3. Trial on Issue of Suretyship; Two or More Defendants
34-22-1-4. Order of Levy Upon Property of Principal and Surety
34-22-1-5. Judgment Remaining in Force for Use of Surety or Other Person Making Payment
34-22-1-6. Remedies Against Codefendants and Cosureties
34-22-1-7. When Confessed Judgment or Default Judgment by Surety Not Permitted