12-1-3 - Term of bond -- Limitation of action.
12-1-3. Term of bond -- Limitation of action.
Such bond shall be for the term of one year from the date thereof, unless the Division ofCorporations and Commercial Code and the person giving the same shall agree on a longerperiod. No action thereon shall be begun after two years from its expiration.
Amended by Chapter 66, 1984 General Session