Re: Non-payment of of loan by a Member to Thrift & Credit Society

You may withdraw as a surety for the loan if the lender accepts an application from borrower and/or other sureties discharging you from the liability.

Re: Non-payment of of loan by a Member to Thrift & Credit Society

Usually sureties are classified as first,second,third and so on.Your liablity would depend on what position you stand.For instance if you are a third surety then your liabilty would be after the first two persons or subject to the rules of the society that lent the laon.