Tex. Business & Commerce Code § 3.116
JOINT AND SEVERAL LIABILITY; CONTRIBUTION
Texas · Texas Business & Commerce Code · Status: effective
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- Tex. Business & Commerce Code § 3.116, JOINT AND SEVERAL LIABILITY; CONTRIBUTION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/629946
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(a) Except as otherwise provided in the instrument, two 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.
(b) Except as provided in Section 3.419(e) 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.
(c) Repealed by Acts 2005, 79th Leg., Ch. 95, Sec. 21, eff. September 1, 2005.