South Dakota Codified Laws 54-8A-9. Extinguishment of cause of action
Current as of: 2023 | Check for updates
|
Other versions
A cause of action with respect to a fraudulent transfer or obligation under this chapter is extinguished unless action is brought:
(a) Under subsection 54-8A-4(a)(1) 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;
Terms Used In South Dakota Codified Laws 54-8A-9
- 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.
(b) Under subsection 54-8A-4(a)(2) or subdivision 54-8A-5(a) within four years after the transfer was made or the obligation was incurred; or
(c) Under subdivision 54-8A-5(b) within one year after the transfer was made or the obligation was incurred.
Source: SL 1987, ch 365, § 9.