ANNOTATIONS Repeals. — Laws 1989, ch. 382, § 13 repealed 56-10-1 to 56-10-13 NMSA 1978, as enacted by Laws 1959, ch. 116, §§ 1-13, relating to fraudulent conveyances, effective June 16, 1989. For present comparable provisions, see 56-10-14 NMSA 1978 et seq.
Sections 56-10-14 through 56-10-29 NMSA 1978 may be cited as the “Uniform Voidable Transactions Act”. History: Laws 1989, ch. 382, § 1; 2015, ch. 54, § 9. ANNOTATIONS The 2015 amendment, effective January 1, 2016, changed the name of the Uniform Fraudulent Transfer Act to the Uniform Voidable Transactions Act; changed “This act” to “Sections […]
As used in the Uniform Voidable Transactions Act: A. “affiliate” means: (1) a person that directly or indirectly owns, controls or holds, with power to vote, twenty percent or more of the outstanding voting securities of the debtor, other than a person that holds the securities: (a) as a fiduciary or agent without sole discretionary […]
A. A debtor is insolvent if, at a fair valuation, the sum of the debtor’s debts is greater than the sum of the debtor’s assets. B. A debtor that is generally not paying the debtor’s debts as they become due other than as a result of a bona fide dispute is presumed to be insolvent. […]
A. Value is given for a transfer or an obligation if, in exchange for the transfer or obligation, property is transferred or an antecedent debt is secured or satisfied, but value does not include an unperformed promise made otherwise than in the ordinary course of the promisor’s business to furnish support to the debtor or […]
A. A transfer made or obligation incurred by a debtor is voidable as to a creditor, whether the creditor’s claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the obligation: (1) with actual intent to hinder, delay or defraud any creditor of […]
A. A transfer made or obligation incurred by a debtor is voidable as to a creditor whose claim arose before the transfer was made or the obligation was incurred if the debtor made the transfer or incurred the obligation without receiving a reasonably equivalent value in exchange for the transfer or obligation and the debtor […]
For the purposes of the Uniform Voidable Transactions Act: A. a transfer is made: (1) with respect to an asset that is real property other than a fixture, but including the interest of a seller or purchaser under a contract for the sale of the asset, when the transfer is so far perfected that a […]
A. In an action for relief against a transfer or obligation under the Uniform Voidable Transactions Act, a creditor, subject to the limitations in Section 56-10-22 NMSA 1978, may obtain: (1) avoidance of the transfer or obligation to the extent necessary to satisfy the creditor’s claim; (2) an attachment or other provisional remedy against the […]
A. A transfer or obligation is not voidable under Paragraph (1) of Subsection A of Section 56-10-18 NMSA 1978 against a person that took in good faith and for a reasonably equivalent value given the debtor or against any subsequent transferee or obligee. B. To the extent a transfer is avoidable in an action by […]
A cause of action with respect to a transfer or obligation under the Uniform Voidable Transactions Act is extinguished unless action is brought: A. under Paragraph (1) of Subsection A of Section 56-10-18 NMSA 1978 not later than four years after the transfer was made or the obligation was incurred or, if later, not later […]
A. In this section, in determining a debtor’s location, a debtor: (1) who is an individual is located at the individual’s principal residence; (2) that is an organization and has only one place of business is located at its place of business; and (3) that is an organization and has more than one place of […]
A. As used in this section: (1) “protected series” means an arrangement, however denominated, created by a series organization that, pursuant to the law under which the series organization is organized, has the characteristics set forth in Paragraph (2) of this subsection; and (2) “series organization” means an organization that, pursuant to the law under […]
A. Unless displaced by the provisions of the Uniform Voidable Transactions Act, the principles of law and equity, including the law merchant and the law relating to principal and agent, estoppel, laches, fraud, misrepresentation, duress, coercion, mistake, insolvency or other validating or invalidating cause, supplement its provisions. B. The provisions of the Uniform Voidable Transactions […]
The Uniform Voidable Transactions Act shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of the Uniform Voidable Transactions Act among states enacting it. History: Laws 1989, ch. 382, § 12; 1978 Comp., § 56-10-25, recompiled and amended as § 56-10-27 by Laws 2015, […]
The Uniform Voidable Transactions Act modifies, limits or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit or supersede Section 101(c) of that act, 15 U.S.C. Section 7001(c), or authorize electronic delivery of any of the notices described in Section 103(b) of that […]
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. […]
