Section 3-116 - Joint and Several Liability; Contribution(a) Except as otherwise provided in the instrument, two or more persons who have the same liability on an instrument as makers, drawers, acceptors, endorsers 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 subsection (f) of Section 3-419 of this title 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.Okla. Stat. tit. 12A, § 3-116
Added by Laws 1961, SB 36, p. 105, § 3-116; Amended by Laws 1991, SB 25, c. 117, § 41, eff. 1/1/1992; Amended by Laws 2008 , SB 1708, c. 362, § 4, eff. 11/1/2008 (Laws 2008, SB 1708, c. 382 held unconstitutional and void by Weddington v. Henry, 2008 OK 102, 202 P.3d 143, and repealed by Laws 2009 , SB 991, c. 208, § 22, eff. 11/1/2009); Amended by Laws 2009 , SB 991, c. 208, § 4, eff. 11/1/2009.Oklahoma Code Comment
Section 3-116 picks up and elaborates upon the rule of pre-revision sub section 3-118(e) . In that regard, these rules codified older Oklahoma decisions such as Schneider v. Republic Supply Co., 123 Okla. 98, 252 P. 45 (1926), and Outcalt v. Collier, 8 Okla. 473, 58 P. 642 (1899). Pre-revision sub section 3-118(f) , which limited prior consent to an extension of time to a single extension not longer than the original note period, was dropped entirely by the 1992 UCC revisions. The rules concerning consent to extensions are now contained primarily in Section 3-605 , and do not include any such Iimitation.