Remission of debt granted to the principal obligor releases the sureties.
Remission of debt granted to the sureties does not release the principal obligor.
Remission of debt granted to one surety releases the other sureties only to the extent of the contribution the other sureties might have recovered from the surety to whom the remission was granted.
If the obligee grants a remission of debt to a surety in return for an advantage, that advantage will be imputed to the debt, unless the surety and the obligee agree otherwise.
Acts 1984, No. 331, §1, eff. Jan. 1, 1985.