413.220 Sureties who are discharged after seven years. (1) A surety shall be discharged from all liability under any judgment or decree, after the lapse of seven (7) years without the issue of execution and prosecution in good faith for collection. (2) A surety in any bond given in the course of any judicial proce eding shall be discharged from all liability on it unless suit is brought on it within seven (7) years after the cause of action accrues. (3) A surety in any obligation or contract, other than those provided for in KRS 413.230, shall be discharged from all liability on it unless suit is brought on it within seven (7) years after the cause of action accrues. Effective: October 1, 1942 History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 2548, 2549, 2551.
Kentucky Legal Code