Section 58-22-40 - Surety's right to enforce indemnity agreement limited by affidavit

58-22-40. Surety's right to enforce indemnity agreement limited by affidavit.An action to enforce any indemnity agreement shall not lie in favor of the surety against such indemnitor, except with respect to agreements set forth in the affidavit required by §58-22-39. In an action by the indemnitor, such surety shall have the right to retain only such security or collateral as is mentioned in the affidavit required by §58-22-39. Source: SL 1966, ch 111, ch 31, §25.