CC 3055 - Liability among co-sureties - Louisiana Statutes

CHAPTER 5. THE EFFECTS OF SURETYSHIP AMONG

SEVERAL SURETIES

Art. 3055. Liability among co-sureties

Co-sureties are those who are sureties for the same obligation of the same obligor. They are presumed to share the burden of the principal obligation in proportion to their number unless the parties agreed otherwise or contemplated that he who bound himself first would bear the entire burden of the obligation regardless of others who thereafter bind themselves independently of and in reliance upon the obligation of the former.

Acts 1987, No. 409, §1, eff. Jan. 1, 1988.