Montana Code 28-11-419. Creditor entitled to benefit of security held by surety
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28-11-419. Creditor entitled to benefit of security held by surety. A creditor is entitled to the benefit of everything which a surety has received from the debtor by way of security for the performance of the obligation and may, upon the maturity of the obligation, compel the application of such security to its satisfaction.
Terms Used In Montana Code 28-11-419
- 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.