2.2-4340 - Action on performance bond. - Virginia Statutes

§ 2.2-4340. Action on performance bond.

No action against the surety on a performance bond shall be brought unlesswithin five years after completion of the work on the project to thesatisfaction of the Department of Transportation, in cases where the publicbody is the Department of Transportation, or, in all other cases, within oneyear after (i) completion of the contract, including the expiration of allwarranties and guarantees, or (ii) discovery of the defect or breach ofwarranty that gave rise to the action.

(1982, c. 647, § 11-59; 1996, c. 827; 2001, c. 844.)