25:2-31 - Extinguishment of cause of action
25:2-31 Extinguishment of cause of action.
25:2-31. 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 subsection a. of R.S.25:2-25, 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 discovered by the claimant;
b.Under subsection b. of R.S.25:2-25 or subsection a. of R.S.25:2-27, within four years after the transfer was made or the obligation was incurred; or
c.Under subsection b. of R.S.25:2-27, within one year after the transfer was made or the obligation was incurred.
L. 1988, c.74, s.1; amended 2002, c.100.