1. (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.
2. (b) Except as provided in subsection (e) of Section 12A-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.

3. (c) Discharge of one party having joint and several liability by a person entitled to enforce the instrument does not affect the right under subsection (b) of this section of a party having the same joint and several liability to receive contribution from the party discharged.

   Oklahoma Code Comment

   Section 3-116 picks up and elaborates upon the rule of pre-revision subsection 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 subsection 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.

Added by Laws 1961, SB 36, p. 105, § 3-116; Amended by Laws 1991, SB 25, c. 117, § 41, eff. January 1, 1992.