North Dakota Code 22-03-10 – Reimbursement of surety by principal – Claims for reimbursement against others
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If a surety satisfies the principal obligation, or any part thereof, with or without legal proceedings, the principal is bound to reimburse the surety for what the surety has disbursed, including necessary costs and expenses. A surety has no claim, however, for reimbursement against other persons though they may have been benefited by the surety’s act, except as prescribed by section 22-03-11.
Terms Used In North Dakota Code 22-03-10
- 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.