Va. Code Ann. § 2.2-4340
This is the official text of Va. Code Ann. § 2.2-4340, part of Virginia’s Code of Virginia — the complete compiled statutory law of Virginia, organized into 60+ numbered titles by subject.
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Action on performance bond
Official statutory text
No action against the surety on a performance bond shall be brought unless within five years after completion of the contract. For the purposes of this section, completion of the contract is the final payment to the contractor pursuant to the terms of the contract. However, if a final certificate of occupancy, or written final acceptance of the project, is issued prior to final payment, the five-year period to bring an action shall commence no later than 12 months from the date of the certificate of occupancy or written final acceptance of the project.
1982, c. 647, § 11-59; 1996, c. 827 ; 2001, c. 844 ; 2020, cc. 496 , 497 .
1982, c. 647, § 11-59; 1996, c. 827 ; 2001, c. 844 ; 2020, cc. 496 , 497 .
Status: in_force · Read it on the official government site
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