31-2-341. Extinguishment of cause of action. A cause of action with respect to a fraudulent transfer or obligation under this part is extinguished unless action is brought under:
     (1) 31-2-333(1)(a) within 2 years after the transfer was made or the obligation was incurred or, if later, within 1 year after the transfer or obligation was or could reasonably have been discovered by the claimant;
     (2) 31-2-333(1)(b) or 31-2-334(1) within 2 years after the transfer was made or the obligation was incurred; or
     (3) 31-2-334(2) within 1 year after the transfer was made or the obligation was incurred.

     History: En. Sec. 10, Ch. 324, L. 1991.