N.Y. General Obligations Law Section 15-701
Surety not discharged by failure or refusal by creditor to sue principal debtor

Unless otherwise agreed between the parties in writing, the failure or refusal by a creditor, after a demand by a person bound as surety, to bring an action against a principal debtor upon a contract hereafter made or an obligation hereafter created for the payment of money or the performance of any act shall not discharge such surety.

Source: Section 15-701 — Surety not discharged by failure or refusal by creditor to sue principal debtor, https://www.­nysenate.­gov/legislation/laws/GOB/15-701 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

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Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 15-701’s source at nysenate​.gov

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