This bill proposes amendments to the Code of West Virginia, specifically targeting the limitation periods for various legal actions. It reduces the time frame within which individuals can bring actions to recover on written and oral contracts, certain bonds, and recognizances. For instance, the statute of limitations for actions based on indemnifying bonds, written contracts under seal, and contracts not under seal is reduced from ten years to five years. Additionally, the time limit for actions based on express or implied contracts is decreased from five years to two years, with specific exceptions for partnership accounts and merchant transactions.

Furthermore, the bill modifies the accrual of rights for actions against fiduciaries, such as guardians and personal representatives, establishing that the right of action shall be deemed to have first accrued based on specific events, such as the ward reaching the age of 18 or the termination of a fiduciary's office. It also stipulates that suits against fiduciaries must be initiated within five years after the confirmation of an account. Lastly, the time limit for actions on recognizances is similarly reduced from ten years to five years, with a three-year limit for bail recognizances. Overall, the bill aims to streamline the legal process by shortening the timeframes for initiating these actions.

Statutes affected:
Introduced Version: 55-2-6, 55-2-7, 55-2-11