26-5. Contribution among sureties.
Where there are two or more sureties for the performance of a contract, and one or more of them may have been compelled to perform and satisfy the same, or any part thereof, such surety may have and maintain an action against every other surety for a just and ratable proportion of the same which may have been paid as aforesaid, whether of principal, interest or cost. (1807, c. 722, P.R.; R.C., c. 110, s. 2; Code, s. 2094; Rev., s. 2844; C.S., s. 3965; 1957, c. 981.)
Structure North Carolina General Statutes
North Carolina General Statutes
§ 26-1 - Surety and principal distinguished in judgment and execution.
§ 26-2 - Principal liable on execution before surety.
§ 26-3 - Summary remedy of surety against principal.
§ 26-3.1 - Surety's recovery on obligation paid; no assignment necessary.
§ 26-4 - Subrogation of surety paying debt of deceased principal.
§ 26-5 - Contribution among sureties.
§ 26-6 - Dissenting surety not liable to surety on stay of execution.
§ 26-7 - Surety, indorser, or guarantor may notify creditor to take action.
§ 26-8 - Notice; how given; prima facie evidence thereof.
§ 26-9 - Effect of failure of creditor to take action.