Kansas Statutes 33-209. Extinguishment of cause of action
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Terms Used In Kansas Statutes 33-209
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Transfer: means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease, and creation of a lien or other encumbrance. See Kansas Statutes 33-201
A cause of action with respect to a fraudulent transfer or obligation under this act is extinguished unless action is brought:
(a) Under subsection (a)(1) of Kan. Stat. Ann. § 33-204, 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;
(b) under subsection (a)(2) of Kan. Stat. Ann. §§ 33-204 or subsection (a) of Kan. Stat. Ann. § 33-205, within four years after the transfer was made or the obligation was incurred; or
(c) under subsection (b) of Kan. Stat. Ann. § 33-205, within one year after the transfer was made or the obligation was incurred.