Section 34-11-2-9 - Promissory notes, bills of exchange, deposit accounts, or written contracts for payment of money(a) As used in this section, "deposit account" has the meaning set forth in IC 28-9-2-5.(b) Except as provided in subsection (c), an action upon promissory notes, bills of exchange, or other written contracts for the payment of money executed after August 31, 1982, must be commenced within six (6) years after the cause of action accrues. An action upon promissory notes, bills of exchange, and other written contracts for the payment of money executed on or after September 19, 1881, and before September 1, 1982, must be commenced within ten (10) years after the cause of action accrues. However, all contracts described in this section that have been executed before September 19, 1881, may be enforced within the time only as they have to run, before being barred under the law in effect at the time of their executions limiting the commencement of actions, and not afterward.(c) An action upon a deposit account must be commenced not later than two (2) years after the cause of action accrues, regardless of whether the action is brought by: (1) a depositor (as defined in IC 28-9-2-4); or(2) a depository financial institution (as defined in IC 28-9-2-6).Pre-1998 Recodification Citation: 34-1-2-2(5).
Amended by P.L. 77-2024,SEC. 1, eff. 7/1/2024.Amended by P.L. 102-2021,SEC. 2, eff. 4/22/2021.As added by P.L. 1-1998, SEC.6.