41-3-404. Right of action against dealer, salesperson, crusher, body shop, or surety on bond.
(1) A person may maintain an action against a dealer, crusher, or body shop on the corporate surety bond if: the person suffers a loss or damage because of: fraud; fraudulent representation; or a violation of Section; and 41-3-210 the loss or damage results from the action of: a licensed dealer; a licensed dealer's salesperson acting on behalf of the dealer or within the scope of the salesperson's employment; a licensed crusher; or a body shop.
(2) Successive recovery against a surety on a bond is permitted, but the total aggregate liability on the bond to all persons making claims, regardless of the number of claimants or the number of years a bond remains in force, may not exceed the amount of the bond.
(3) A cause of action may not be maintained against any surety under any bond required under this chapter except as provided in Section. 41-3-205