As Amended
SEC. 85-7-189. Bond; suit on; commencement.
When suit is instituted by any such person on a bond, it shall not be commenced until after the complete performance of said contract, and final settlement thereof and shall be commenced within one (1) year after the performance and final settlement of said contract and not later; provided that if the contractor quits or abandons the contract before its completion suit may be instituted by any such person including the owner on said bond and shall be commenced within one (1) year after such abandonment and not later. But said period for the limitation of the institution of said action shall not begin to run until (a) the obligee shall have made said final settlement or determined said abandonment and published notice thereof in some newspaper in said county, or if there be none then in some newspaper having a general circulation therein; (b) after the written acceptance of the project by the owner; or (c) after the actual occupancy or use by the owner; whichever occurs first.
SOURCES: Codes, Hemingway's 1921 Supp. Sec. 2434d; 1930, Sec. 2278; 1942, Sec. 376; Laws, 1918, ch. 128. Laws, 1994, ch. 626, Sec. 5, eff from and after July 1, 1994