A surety cannot be held beyond the express terms of his contract, and if such contract prescribes a penalty for its breach, he cannot in any case be liable for more than the penalty.
S.D. Codified Laws § 56-2-12
Liability of surety limited by express terms of contract--Penalty for breach
Applied in 1 court decision — leading case Sheehan v. Morris Irrigation (1987)
Most recently applied in Sheehan v. Morris Irrigation (August 1987)
Source: SDC 1939, § 26.0202.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.