30-3-130. Joint and several liability -- contribution. (1) Except as otherwise provided in the instrument, two or more persons who have the same liability on an instrument as makers, drawers, acceptors, indorsers who are indorsing joint payees, or anomalous indorsers are jointly and severally liable in the capacity in which they sign.
(2) Except as provided in 30-3-424(5) or by agreement of the affected parties, a party with joint and several liability that pays the instrument is entitled to receive from any party with the same joint and several liability contribution in accordance with applicable law.
(3) Discharge of one party with joint and several liability by a person entitled to enforce the instrument does not affect the right under subsection (2) of a party with the same joint and several liability to receive contribution from the party discharged.
History: En. Sec. 103, Ch. 410, L. 1991.
Structure Montana Code Annotated
Chapter 3. Uniform Commercial Code Negotiable Instruments
Part 1. Short Title, Form, and Interpretation
30-3-104. Negotiable instrument
30-3-105. Unconditional promise or order
30-3-107. Instrument payable in foreign money
30-3-111. Payable to bearer or to order
30-3-115. Incomplete instrument
30-3-119. Other agreements affecting instrument
30-3-122. Statute of limitations
30-3-126. Identification of person to whom instrument is payable
30-3-129. Contradictory terms of instrument