Texas Civil Practice and Remedies Code

§ 43.002 — SUIT ON ACCRUED RIGHT OF ACTION

CP § 43.002Title 2. TRIAL, JUDGMENT, AND APPEAL · Part C. JUDGMENTS · Ch. 43. PRINCIPAL AND SURETY

Statute text

(a)When a right of action accrues on a contract for the payment of money or performance of an act, a surety on the contract may, by written notice, require the obligee to without delay bring a suit on the contract.

(b)A surety who provides notice to an obligee under Subsection (a) is discharged from all liability on the contract if the obligee:

(1)is not under a legal disability; and

(2)does not:

(A)bring a suit on the contract during:

(i)the first term of court after receipt of the notice; or

…

Legislative history

Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.11, eff. April 1, 2009.