[§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.