If the creditor or obligee shall not proceed within a reasonable time to bring his or her action upon such contract, and prosecute the same to judgment and execution, the surety shall be discharged from all liability thereon.
RCW 19.72.101
Failure of creditor to proceed—Discharge of surety.
Applied in 2 court decisions — leading case Colorado Structures, Inc. v. Insurance Co. of the West (2007)
Most recently applied in Colorado Structures, Inc. v. Insurance Co. of the West (September 2007)
2011 c 336 s 548; Code 1881 s 645; RRS s 975
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.