California Code of Civil Procedure 359.5 – If the obligations under a surety bond are conditioned upon …
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If the obligations under a surety bond are conditioned upon performance of the principal, the expiration of the statute of limitations with respect to the obligations of the principal, other than the obligations of the principal under the bond, shall also bar an action against the principal or surety under the bond, unless the terms of the bond provide otherwise.
(Added by Stats. 1982, Ch. 106, Sec. 1.)
Terms Used In California Code of Civil Procedure 359.5
- action: as used in this Title is to be construed, whenever it is necessary so to do, as including a special proceeding of a civil nature. See California Code of Civil Procedure 363
- Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.