There is a newer version of the California Code
2011 California Code
Civil Code
DIVISION 3. OBLIGATIONS [1427 - 3272.9]
ARTICLE 7. Position of Sureties
Section 2854
CA Civ Code § 2854 (through 2012 Leg Sess) What's This?
A creditor is entitled to the benefit of everything which a surety has received from the debtor by way of security for the performance of the obligation, and may, upon the maturity of the obligation, compel the application of such security to its satisfaction.
(Enacted 1872.)
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