WV SB124

Reduces the statute of limitations for actions on sealed contracts, written contracts, indemnifying bonds, and fiduciary bonds from 10 years to 5 years

Shortens the limitation period for actions on oral or implied contracts from 5 years to 2 years

Reduces the time to sue a fiduciary or their sureties for account balances from 10 years to 5 years after account confirmation

Shortens the limitation period for actions on recognizances (other than bail recognizances) from 10 years to 5 years

Codifies the discovery rule, specifying that limitation periods do not begin until the person knows or reasonably should know their cause of action has accrued