<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 56-2-17 - Surety subrogated to rights of creditor. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073124Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2073124SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073124CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073124Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2073124DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2073124Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2073124000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073124SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073124SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2073124Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=56-2-17"><span class="s2073124SENU">56-2-17</span></a><span xml:space="preserve" class="s2073124SENU">. </span><span class="s2073124CL">Surety subrogated to rights of creditor.</span></p><p dir="ltr" class="s2073124Normal-000000"><span class="s2073124DefaultParagraphFont">If the duty of the principal to the creditor is fully satisfied, the surety, to the extent that he has contributed to this satisfaction, is subrogated to all of the following:</span></p><p dir="ltr" class="s2073124Normal-000001"><span class="s2073124DefaultParagraphFont">(1)    The rights of the creditor against the principal;</span></p><p dir="ltr" class="s2073124Normal-000001"><span class="s2073124DefaultParagraphFont">(2)    Subject to the rule stated in subdivision (4) of this section, the interests which the creditor has in security for the principal's performance and in which the creditor has no continuing interest;</span></p><p dir="ltr" class="s2073124Normal-000001"><span class="s2073124DefaultParagraphFont">(3)    The rights of the creditor against persons other than the principal whose negligence, willful conduct or breach of contract has made them liable to the creditor for the same default, loss or damage; and</span></p><p dir="ltr" class="s2073124Normal-000001"><span class="s2073124DefaultParagraphFont">(4)    The rights of the creditor against cosureties and to the creditor's interest in security held by them, but in such case the cosurety's personal liability is limited to the amount which will satisfy his duty to contribute his share of the principal's default.</span></p><p dir="ltr" class="s2073124Normal"><span xml:space="preserve" class="s2073124000002"> </span></p><p dir="ltr" class="s2073124Normal"><span class="s2073124SCL">Source:</span><span xml:space="preserve" class="s2073124SCL-000003"> SL 1981, ch 357, § 3.</span></p></div></body></html>