15-3-115 - Extinguishment of cause of action.
§ 15-3-115. Extinguishment of cause of action.
A cause of action with respect to a fraudulent transfer or obligation under this article is extinguished unless action is brought:
(a) Under Section 15-3-107(1), within three (3) years after the transfer was made or the obligation was incurred or, if later, within one (1) year after the transfer or obligation was or could reasonably have been discovered by the claimant;
(b) Under Section 15-3-107(2)(l) or (m), within three (3) years after the transfer was made or the obligation was incurred; or
(c) Under Section 15-3-107(2)(n), within one (1) year after the transfer was made or the obligation was incurred.
Sources: Laws, 2006, ch. 371, § 8, eff from and after July 1, 2006.