Extent of surety discharge under releasing bond or similar obligation

The liability of a surety under a releasing bond or other like obligation shall be discharged to the extent of the value of the indemnifying property recovered or the indemnifying lien nullified and avoided by the liquidator or, if the property is retained under § 58-29B-79 , to the extent of the amount paid to the liquidator. Source: SL 1989, ch 436 , § 80.