South Dakota § 54-8A-9 Extinguishment of cause of action.

South Dakota Statutes

§ 54-8A-9 — Extinguishment of cause of action.

South Dakota·Title 54 DEBTOR AND CREDITOR·Ch. 54-8A UNIFORM FRAUDULENT TRANSFER ACT

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;

(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.

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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; (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.

South Dakota § 54-8A-9 (Extinguishment of cause of action.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.