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Section 56-10-29 - Applicability.

NM Stat § 56-10-29 (2019) (N/A)
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A. The provisions of the Uniform Voidable Transactions Act:

(1) apply to a transfer made or obligation incurred on or after January 1, 2016; but

(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 NMSA 1978.

History: 1978 Comp., § 56-10-29, enacted by Laws 2015, ch. 54, § 24.

Effective dates. — Laws 2015, ch. 54, § 25 made Laws 2015, ch. 54, § 24 effective January 1, 2016.

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