§ 56-10-23 NMSA 1978

Extinguishment of cause of action

Known as the Uniform Voidable Transactions Act

The act spans §§ 56–56 (17 sections).

Applied in 1 court decision — leading case Finn v. Alliance Bank (2013)

Most recently applied in Finn v. Alliance Bank (September 2013)

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

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.

Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.