Section 7.12 Surety Liens
| Library | Insurance Practice 2015 |
Any surety who pays an obligation to the State of Missouri on a bond is not only subrogated against the principal or the principal’s estate for the amount of its payment, but also to the priority of the State in payment. Section 430.350, RSMo 2000.
When a creditor of a business obtained a judgment jointly and severally against four guarantors of the debts of the business and the judgment was then paid by one of the guarantors, the paying guarantor was subrogated to the...
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