South Dakota Codified Laws 58-22-40. Surety’s right to enforce indemnity agreement limited by affidavit
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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.
Terms Used In South Dakota Codified Laws 58-22-40
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
Source: SL 1966, ch 111, ch 31, § 25.