Montana Code 28-11-420. Principal’s property to be taken first
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28-11-420. Principal’s property to be taken first. Whenever property of a surety is hypothecated with property of the principal, the surety is entitled to have the property of the principal first applied to the discharge of the obligation.
Terms Used In Montana Code 28-11-420
- 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.
- Property: means real and personal property. See Montana Code 1-1-205