No surety shall be released from his obligation on any lost or destroyed judgment, or bond having the force of a judgment, because of any failure to sue out execution thereon for twelve months, unless the failure was for twelve months after the reentry of judgment or order of execution. However, this section shall not apply to a surety who was released by law at the time of the destruction or loss of the record or bond, nor unless proceedings to have a reentry of the judgment or order of execution had been commenced as provided in KRS § 422.210 and KRS § 422.220.
Effective: January 2, 1978
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Terms Used In Kentucky Statutes 412.130

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.

History: Amended 1976 (1st Extra. Sess.) Ky. Acts ch. 14, sec. 416, effective January
2, 1978. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from
Ky. Stat. sec. 4670.

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