Ind. Code § 34-22-1-2

Current through P.L. 171-2024

Section 34-22-1-2 - Discharge of surety

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.

IC 34-22-1-2

Pre-1998 Recodification Citation: 34-1-55-2.

As added by P.L. 1-1998, SEC.17.