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.
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 56-10-14 through 56-10-29 NMSA 1978", and after "Uniform", deleted "Fraudulent Transfer" and added "Voidable Transactions".
Federal preemption. — A motion for the appointment of a receiver for a development corporation due to an allegedly fraudulent transfer which the corporation had made in violation of this article was denied, since the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, 12 U.S.C. § 1821, preempts the plaintiffs' count for fraudulent conveyance and does not allow for non-monetary relief. Glenborough N.M. Assocs. v. Resolution Trust Corp., 802 F. Supp. 387 (D.N.M. 1992).
Law reviews. — For note, "Matching the Historical Legal Principles on New Mexico's Exemption Laws to the Modern Identity of Annuities: Dona Ana Savings & Loan Ass'n v. Dofflemeyer," see 24 N.M.L. Rev. 365 (1994).
Structure New Mexico Statutes
Chapter 56 - Commercial Instruments and Transactions
Article 10 - Uniform Voidable Transactions
Section 56-10-1 to 56-10-13 - Repealed.
Section 56-10-14 - Short title.
Section 56-10-15 - Definitions.
Section 56-10-16 - Insolvency.
Section 56-10-18 - Transfer or obligation voidable as to present or future creditor.
Section 56-10-19 - Transfer or obligation voidable as to present creditor.
Section 56-10-20 - When transfer is made or obligation is incurred.
Section 56-10-21 - Remedies of creditor.
Section 56-10-22 - Defenses, liability and protection of transferee or obligee.
Section 56-10-23 - Extinguishment of cause of action.
Section 56-10-24 - Governing law.
Section 56-10-25 - Application to series organization.
Section 56-10-26 - Supplementary provisions.
Section 56-10-27 - Uniformity of application and construction.
Section 56-10-28 - Relation to Electronic Signatures in Global and National Commerce Act.