No suit instituted under § 37-12-2 shall be commenced after the expiration of two (2) years, or under the maximum time limit as contained within any labor or material payment bond required under § 37-12-1, whichever period is longer, after the day on which the last of the labor was furnished or performed or material or equipment was furnished or supplied by any person claiming under the section.
History of Section.
P.L. 1934, ch. 2105, § 5; P.L. 1938, ch. 2644, § 2; G.L. 1938, ch. 79, § 5; impl. am. P.L. 1939, ch. 660, § 100; G.L. 1956, § 37-12-5; P.L. 1973, ch. 216, § 1; P.L. 1975, ch. 148, § 1.