When any bond, bill or note for the payment of money or delivery of property shall not be paid by the principal debtor, according to the tenor thereof, and such bond, bill or note, or any part thereof, shall be paid by any surety thereto, the principal debtor shall refund to such surety the amount or value so paid, with interest thereon at ten percent per annum from the time of such payment.
Mo. Rev. Stat. § 433.050
Interest due on amount paid by surety
Applied in 1 court decision — leading case 354 F. Supp. 2d 1032 - National Sur. Corp. v. Prairieland Const. Inc. (2004)
Most recently applied in 354 F. Supp. 2d 1032 - National Sur. Corp. v. Prairieland Const. Inc. (November 2004)
Effective: 28 Aug 1939; (RSMo 1939 § 3324); Prior revisions: 1929 § 2937; 1919 § 12693; 1909 § 11275
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.