Indiana Statutes
§ 34-22-1-2 — Discharge of surety
Indiana·Title 34 CIVIL LAW AND PROCEDURE·Art. 22 CAUSES OF ACTION: SURETY'S REMEDIES·Ch. 1 Remedies of Sureties Against Their Principals
If the creditor or obligee does not:
(1)proceed within a reasonable time to bring an action upon the
contract; and
(2)prosecute the action to judgment and execution;
the surety is discharged from all liability on the contract.
[Pre-1998 Recodification Citation: 34-1-55-2.]
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Legislative History
As added by P.L.1-1998, SEC.17.
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