No surety shall be permitted to confess judgment, or allow judgment to go by default, if the principal will be made a defendant to the suit, and tender to the surety, for the principal's indemnity, sufficient collateral security, to be approved by the court before whom the suit is pending.Code 1858, § 3624 (deriv. Acts 1801, ch. 15, § 3); Shan., § 5389; Code 1932, § 9548; impl. am. Acts 1979, ch. 68, § 3; T.C.A. (orig. ed.), § 25-202.
Tennessee Legal Code