New Mexico Statutes 56-10-23. Extinguishment of cause of action
A cause of action with respect to a transfer or obligation under the Uniform Voidable Transactions Act is extinguished unless action is brought:
Terms Used In New Mexico Statutes 56-10-23
- 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.
A. under Paragraph (1) of Subsection A of Section 56-10-18 N.M. Stat. Ann. 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 N.M. Stat. Ann. or Subsection A of Section 56-10-19 N.M. Stat. Ann. 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 N.M. Stat. Ann. not later than one year after the transfer was made.