§651C-9 - Extinguishment of cause of action.
[§651C-9] Extinguishment of cause of action. A cause of action with respect to a fraudulent transfer or obligation under this chapter is extinguished unless action is brought:
(1) Under section 651C-4(a)(1), within four years after the transfer was made or the obligation was incurred or, if later, within one year after the transfer or obligation was or could reasonably have been discovered by the claimant;
(2) Under section 651C-4(a)(2) or section 651C-5(a), within four years after the transfer was made or the obligation was incurred; or
(3) Under section 651C-5(b), within one year after the transfer was made or the obligation was incurred. [L 1985, c 216, pt of §1]
Case Notes
Section barred fraudulent conveyance claim by U.S. upon expiration of prescribed time period. 780 F. Supp. 705.