(1) There shall be no statute of limitation for
making a lawsuit in the matter of transaction carried on with intent
to take rights to, misappropriate, cause loss to, or disorder, the
property of an incompetent and quasi-competent person or in the
matter of collection of compound interest or collection of interest in
excess of ten percent.
(2) Except as provided for in sub-section (1), a person who
is aggrieved from any act done or action taken pursuant to this
hapter may make a lawsuit as follows from the date of such act or
action:
(a) Where this Chapter provides for a separate statute
of limitation for making a lawsuit, within such
limitation,
(b) Within a period of one year from the date of
expiration of the period, if any, specified in any
deed, and failing such a deed, or in the other cases,
from the date of accrual of the cause of action.