22-01-15. When guarantor exonerated.
62 words·~1 min read·
/nd/title-22/chapter-22-01-guaranty/22-01-15·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A guarantor is exonerated, except insofar as the guarantor may be indemnified by the principal, if, by any act of the creditor without the consent of the guarantor:
1. The original obligation of the principal is altered in any respect; or
2. The remedies or rights of the creditor against the principal in respect thereto are
impaired or suspended in any manner.