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Arkansas Code Title 18. Property § 18-44-508. Actions--Limitations

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) All persons, firms, associations, and corporations who have valid claims against the payment bond or performance bond may bring an action thereon against the corporate surety.

(b) An action shall not be brought on a payment bond after one (1) year from the date of whichever of the following occurs first, the date the:

(1) Final payment is made on the construction contract, public construction contract, or real estate construction contract; or

(2) Principal contractor on the payment bond ceases work on the construction contract, public construction contract, or real estate construction contract.

(c) An action shall not be brought on a performance bond after two (2) years from whichever of the following occurs first, the date a principal contractor on the performance bond:

(1) Receives final payment under the construction contract, public construction contract, or real estate construction contract; or

(2) Ceases work on the construction contract, public construction contract, or real estate construction contract.

(d)(1) Before bringing a civil action concerning a payment bond under this subchapter, a person having no contractual relationship with the contractor furnishing the bond, express or implied, shall give written notice to the contractor and his or her surety within ninety (90) days after the last date labor was performed or the last of the material or services for which the claim is based were furnished or supplied.

(2) Notice required by subdivision (d)(1) of this section shall:

(A) State the amount claimed and the name of the party to whom the material was furnished or supplied or for whom the labor was done or performed; and

(B) Be served:

(i) By any means that provides written third-party verification of delivery to the contractor's residence or to any place the contractor maintains an office or conducts business; or

(ii) In any manner appropriate under the rules of civil procedure for the service of process in a civil action.

(e) A civil action under this subchapter shall not be brought outside the State of Arkansas.

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Cite this article: FindLaw.com - Arkansas Code Title 18. Property § 18-44-508. Actions--Limitations - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-18-property/ar-code-sect-18-44-508/

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