12-1641. Action by creditor; failure to bring
action and effect
Any person bound as surety upon a contract for payment of money or performance of an
act, when the right of action has accrued, may require, by notice in writing, the
creditor or obligee forthwith to bring an action upon the contract. If the creditor or
obligee, not being under legal disability, fails to bring the action within sixty days
after receiving the notice, and prosecute it to judgment and execution, the surety giving
the notice shall be discharged from all liability thereon.
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