§ 34-22-1-10 Surety's recovery of interest on debt paid

Codes > Indiana Code > Title 34 > Article 22 : Chapter 1 > 34-22-1-10 Surety's

34-22-1-10 Surety's recovery of interest on debt paid

    Sec. 10. When a surety on a bill, note, bond, or other instrument in writing, is compelled to pay the debt or obligation of the principal debtor, the surety shall recover the rate of interest on the amount paid by the surety for the principal, as was originally provided for in the bill, note, bond, or other instrument in writing, held against the principal debtor. The judgment given to the surety bears the same rate of interest, not exceeding ten percent (10%) per year.