§12A-2A-506.

§12A-2A-506.
   
                           STATUTE OF LIMITATIONS
                                      
   (1) An action for default under a lease contract, including breach of
   warranty or indemnity, must be commenced within four (4) years after
   the cause of action accrued. By the original lease contract the
   parties may reduce the period of limitation to not less than one (1)
   year.
   
   (2) A cause of action for default accrues when the act or omission on
   which the default or breach of warranty is based is or should have
   been discovered by the aggrieved party, or when the default occurs,
   whichever is later. A cause of action for indemnity accrues when the
   act or omission on which the claim for indemnity is based is or should
   have been discovered by the indemnified party, whichever is later.
   
   (3) If an action commenced within the time limited by subsection (1)
   of this section is so terminated as to leave available a remedy by
   another action for the same default or breach of warranty or
   indemnity, the other action may be commenced after the expiration of
   the time limited and within six (6) months after the termination of
   the first action unless the termination resulted from voluntary
   discontinuance or from dismissal for failure or neglect to prosecute.
   
   (4) This section does not alter the law on tolling of the statute of
   limitations nor does it apply to causes of action that have accrued
   before this article becomes effective.