N.M. Stat. § 56-10-23

Current through 2024, ch. 69

Section 56-10-23 - Extinguishment of cause of action

A cause of action with respect to a transfer or obligation under the Uniform Voidable Transactions Act is extinguished unless action is brought:

A. under Paragraph (1) of Subsection A of Section 56-10-18 NMSA 1978 not later than four years after the transfer was made or the obligation was incurred or, if later, not later than one year after the transfer or obligation was or could reasonably have been discovered by the claimant;

B. under Paragraph (2) of Subsection A of Section 56-10-18 NMSA 1978 or Subsection A of Section 56-10-19 NMSA 1978 not later than four years after the transfer was made or the obligation was incurred; or

C. under Subsection B of Section 56-10-19 NMSA 1978 not later than one year after the transfer was made.

NMS § 56-10-23

Laws 1989, ch. 382, § 10; 2015, ch. 54, § 18.

Amended by 2015, c. 54,s. 18, eff. 1/1/2016.