                                 CODE OF VIRGINIA

SURETY MAY REQUIRE CREDITOR TO SUE (§ 49-25)

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.

HISTORY: Code 1919, § 5774; 1979, c. 664.