§ 15-701. Surety not discharged by failure or refusal by creditor to sue principal debtor. Unless otherwise agreed between the parties in writing, the failure or refusal by a creditor, after a demand by a person bound as surety, to bring an action against a principal debtor upon a contract hereafter made or an obligation hereafter created for the payment of money or the performance of any act shall not discharge such surety.
Surety not discharged by failure or refusal by creditor to sue principal debtor
N.Y. General Obligations Law § 15-701, under Discharge of Surety.
N.Y. General Obligations Law § 15-701