South Dakota Codified Laws 56-2-14. Satisfaction of principal obligation by surety–Reimbursement, exception as to otherpersons
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If a surety satisfies the principal obligation or any part thereof, whether with or without legal proceedings, the principal is bound to reimburse what he has disbursed including necessary costs and expenses, but the surety has no claim for reimbursement against other persons, though they may have been benefited by his act, except as prescribed by § 56-2-15.
Terms Used In South Dakota Codified Laws 56-2-14
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Source: SDC 1939, § 26.0209.