An action on a payment bond required by this subtitle shall be filed in the appropriate court of the county where: the contract was executed and performed; or the contractor has its principal place of business. An action on a payment bond required by this subtitle shall be filed within 1 year after the public body finally accepts the work performed under the contract. An obligee named in a bond or a trustee for any other security is not liable for any costs in connection with an action on a payment bond required by this subtitle.