KRS 355.3-116: Joint and several liability -- Contribution.
Where this section sits in the code
(1) Except as otherwise provided in the instrument, two (2) or more persons who have
the same liability on an instrument as makers, drawers, acceptors, indorsers who
indorse as joint payees, or anomalous indorsers are jointly and severally liable in the
capacity in which they sign.
(2) Except as provided in KRS 355.3 -419(6) or by agreement of the affected parties, a
party having joint and several liability who pays the instrument is entitled to receive
from any party having the same joint and several liability contribution in accordance
with applicable law.
Collected 2026-09-05T20:58:44Z. Source file · JSON