New Mexico Statutes 56-10-29. Applicability
A. The provisions of the Uniform Voidable Transactions Act:
Terms Used In New Mexico Statutes 56-10-29
- 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.
but (1) apply to a transfer made or obligation incurred on or after January 1, 2016;
(2) do not apply to:
(a) a transfer made or an obligation incurred before January 1, 2016; or
(b) a right of action that has accrued before January 1, 2016.
B. A transfer made or an obligation incurred before January 1, 2016 and the rights, obligations and interests flowing from that transfer or obligation are governed by the Uniform Fraudulent Transfer Act as if the Uniform Voidable Transactions Act had not been enacted and may be terminated, completed, consummated or enforced pursuant to the Uniform Fraudulent Transfer Act.
C. For the purposes of this section, a transfer is made and an obligation is incurred at the time provided in Section 56-10-20 N.M. Stat. Ann..