West Virginia Code 40-1A-9 – Extinguishment of claim for relief, 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 article is extinguished unless action is brought:
Terms Used In West Virginia Code 40-1A-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.
- 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, license, and creation of a lien or other encumbrance. See West Virginia Code 40-1A-1
(a) Under subdivision (1), subsection (a), section four of this article, 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 subdivision (2), subsection (a), section four or subsection (a), section five of this article, within four years after the transfer was made or the obligation was incurred; or
(c) Under subsection (b), section five of this article, within one year after the transfer was made or the obligation was incurred.