(a) When there are two (2) or more securities in the bond, bill, or note and any of them shall pay in money or property, more than his or her due proportion of the original demand, the security may recover the excess in the same form of action as provided in this subchapter for a security against the principal debtor.
(b) No security shall be compelled in any action, as specified in subsection (a) of this section, to pay more than his or her due proportion of the original demand. When the security shall have previously paid any part thereof, he or she shall be liable in the action to pay only so much as the amount already paid by him or her falls short of his or her due proportion of the original demand.