GA Code § 10-7-24 (2021)
2021 Georgia Code|Title 10 - Commerce and Trade|Chapter 7 - Suretyship|Article 2 - Relative Rights of Creditor and Surety|§ 10-7-24. Refusal to Sue Principal After Notice by Surety as Discharge

 Any surety, guarantor, or endorser, at any time after the debt on which he or she is liable becomes due, may give notice in writing to the creditor, his or her agent, or any person having possession or control of the obligation, to proceed to collect the debt from the principal or any one of the several principals liable therefor; and, if the creditor or holder refuses or fails to commence an action for the space of three months after such notice (the principal being within the jurisdiction of this state), the endorser, guarantor, or surety giving the notice, as well as all subsequent endorsers and all cosureties, shall be discharged. To comply with the requirements of this Code section, the notice must specifically state that the creditor loses his or her rights to pursue the surety, guarantor, or endorser, as well as any cosureties, coguarantors, or endorsers, if the creditor does not commence legal action within three months after receiving the notice.Further, any notice which does not state the county in which the principal resides shall not be considered to be in compliance with the requirements of this Code section.   (Laws 1826, Cobb's 1851 Digest, p. 595; Laws 1831, Cobb's 1851 Digest, p. 596; Ga. L. 1859, p. 54, § 1; Code 1863, § 2133; Ga. L. 1866, p. 23, § 1; Code 1868, § 2128; Code 1873, § 2156; Code 1882, § 2156; Civil Code 1895, § 2974; Civil Code 1910, § 3546; Code 1933, § 103-205; Ga. L. 1994, p. 746, § 1.)   Law reviews.   - For article surveying developments in Georgia commercial law from mid-1980 through mid-1981, see 33 Mercer L. Rev. 33 (1981). For article, "A Georgia Practitioner's Guide to Construction Performance Bond Claims," see 60 Mercer L. Rev. 509 (2010).   JUDICIAL DECISIONS   ANALYSIS    General Consideration   Notice   Suit by Creditor   Waiver and Estoppel    RESEARCH REFERENCES   Am. Jur. 2d.   - 74 Am. Jur. 2d, Suretyship, § 28 et seq.   C.J.S.   - 72 C.J.S., Principal and Surety, § 147 et seq.   ALR.    - Incapacity of principal to contract as affecting liability of guarantor or surety, 24 A.L.R. 838; 43 A.L.R. 589.    Language or purport of notice to proceed against principal, noncompliance with which will relieve surety, 30 A.L.R. 1285.    Endorsing payment upon note before maturity as releasing surety or endorser, 37 A.L.R. 477.    Right of surety or his privies to require creditor to resort to security given by principal before enforcing security given by surety, 37 A.L.R. 1262.    Failure to present claim against estate of deceased principal as releasing surety, 50 A.L.R. 1214.    Insolvency of obligee as extending time allowed by fidelity bond for discovery of default, 56 A.L.R. 1263.    Waiver by surety agreement of benefit of rule which releases surety in event of obligee's failure to comply with surety's demand that he proceed against principal, 89 A.L.R. 570.    Effect of silence of surety or endorser after knowledge or notice of facts relied upon as releasing him, 101 A.L.R. 1310.    Creditor's reservation of rights against surety in releasing or extending time to principal debtor, 139 A.L.R. 85.    Pledgor of property to secure another's obligation as within benefit of rule that requires obligee to comply with surety's demand to proceed against principal, 151 A.L.R. 928.   Applicability to compensated surety or bonding company of statute discharging surety where creditor fails to bring suit against principal after notice, 42 A.L.R.2d 1159.