Where there are many sureties for the same debtor and for the same debt, unless their liability is joint or the benefit thereof is waived, each surety may upon the institution of proceedings by the creditor, request that the debt be shared among the sureties who are credit worthy at the time the issue is raised.
One surety shall not be responsible for the insolvency of the other sureties after the debt has been shared.
The creditor who decides to institute an action against any one or more of the sureties may not go back on that decision and shall bear the insolvency of the said sureties without the possibility of transferring their insolvency to the other sureties.
Official translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 12
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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