Louisiana Civil Code 3049 – Surety’s right of reimbursement for payment of obligation
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Terms Used In Louisiana Civil Code 3049
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
A surety who pays the creditor is entitled to reimbursement from the principal obligor. He may not recover reimbursement until the principal obligation is due and exigible.
A surety for multiple solidary obligors may recover from any of them reimbursement of the whole amount he has paid the creditor.
Acts 1987, No. 409, §1, eff. Jan. 1, 1988.