(a) No suit shall be barred nor shall the amount which the plaintiff shall be entitled to recover be affected by any plea made by any surety in the bond of a former judgment recovered thereon unless it is accompanied by an allegation that the sureties, or some of them, have been obliged to pay the damages on the judgment, or some part thereof, for the want of sufficient property of the principal whereon to levy the damages, or that they will be obliged to pay the damages, or a part thereof, for the same reason; nor unless the plea is verified by oath.
(b) If it shall appear that the amount of damages so recovered which a security has been or will be obliged to pay, as specified in subsection (a) of this section, is equal to the amount for which the defendant shall be liable by virtue of the bond, he or she shall be acquitted and discharged from all further liability, and judgment rendered in his or her favor.
(c) If it shall appear that the amount of damages so recovered and which the surety has paid or will be obliged to pay is not equal to the amount of his or her liability, the amount thereof shall be allowed to him or her in estimating the extent of his or her liability in the action.
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