A surety is not liable for a sum in excess of that expressly stated in his contract.  A legal suretyship may contain terms more favorable to the creditor than those required by the law or order pursuant to which it is given, but it may not provide for a time longer than is provided by law for bringing an action against the surety.

Acts 1987, No. 409, §1, eff. Jan. 1, 1988.