SEC. 15-1-23. Limitations applicable to suits or actions on installment notes following foreclosure or sale of property pledged as security therefor.
In all cases, no suit or action shall hereafter be commenced or brought upon any installment note, or series of notes of three or more, whether due or not, where said note or notes are secured by mortgage, deed of trust, or otherwise, upon any property, real or personal, unless the same is commenced or brought within one year from the date of the foreclosure or sale of the property pledged as security for said note or notes.
SOURCES: Codes, 1942, Sec. 720; Laws, 1934, ch. 251.