Section 56-1-27 - Liability of indemnified guarantor

56-1-27. Liability of indemnified guarantor.A guarantor who has been indemnified by the principal is liable to the creditor to the extent of the indemnity notwithstanding that the creditor, without the assent of the guarantor, may have modified the contract or released the principal. Source: SDC 1939, §26.0121.