Montana Code 31-2-341. Termination of cause of action
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31-2-341. Termination of cause of action. A cause of action with respect to a fraudulent transfer or obligation under this part is terminated unless an action is brought under:
Terms Used In Montana Code 31-2-341
- 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 Montana Code 31-2-328
(1)31-2-333(1)(a) within 4 years after the transfer was made or the obligation was incurred or, if later, within 2 years after the transfer or obligation was or could reasonably have been discovered by the claimant;
(2)31-2-333(1)(b) or 31-2-334(1) within 4 years after the transfer was made or the obligation was incurred; or
(3)31-2-334(2) within 2 years after the transfer was made or the obligation was incurred.