The time within which an action must be commenced by an executor or administrator to recover personal property taken after the death of a testator or intestate and before the issuing of letters of administration or to recover damages for taking, detaining, or injuring personal property within the same period shall be computed from:
(1) the time of issuing such letters if they are issued within 5 years of the death;
(2) 5 years after the death if the letters have not then been issued.