Louisiana Civil Code 3048 – Surety’s right of subrogation
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Terms Used In Louisiana Civil Code 3048
- 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.
The surety who pays the principal obligation is subrogated by operation of law to the rights of the creditor.
Acts 1987, No. 409, §1, eff. Jan. 1, 1988.