Code of Virginia § 49-25. Surety may require creditor to sue.

136 words·~1 min read·/va/title-49/chapter-3/49-25

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The surety, guarantor or endorser, or his committee or personal representative, of any person bound by any contract may, if a right of action has accrued thereon, require the creditor or his committee or personal representative, by notice in writing, to institute suit thereon, and if he be bound in a bond with a condition, or for the performance of some collateral undertaking, he shall also specify in such requirement the breach of the condition or undertaking for which he requires suit to be brought.

Such written notice shall also notify the creditor, his committee or personal representative, that failure to act will result in the loss of the surety, guarantor or endorser, his committee or personal representative as security for the debt in accordance with § 49-26 .

Code 1919, § 5774; 1979, c. 664.