Tex. Bus. & Com. Code § 24.010 · Chapter 24. UNIFORM FRAUDULENT TRANSFER ACT
EXTINGUISHMENT OF CAUSE OF ACTION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Except as provided by Subsection (b) of this section, a cause of action with respect to a fraudulent transfer or obligation under this chapter is extinguished unless action is brought:
(1) under Section 24.005(a)(1) of this code, 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;
(2) under Section 24.005(a)(2) or 24.006(a) of this code, within four years after the transfer was made or the obligation was incurred; or
(3) under Section 24.006(b) of this code, within one year after the transfer was made.
(b) A cause of action on behalf of a spouse, minor, or ward with respect to a fraudulent transfer or obligation under this chapter is extinguished unless the action is brought:
(1) under Section 24.005(a) or 24.006(a) of this code, within two years after the cause of action accrues, or if later, within one year after the transfer or obligation was or could reasonably have been discovered by the claimant; or
(2) under Section 24.006(b) of this code within one year after the date the transfer was made.
(c) If a creditor entitled to bring an action under this chapter is under a legal disability when a time period prescribed by this section starts, the time of the disability is not included in the period. A disability that arises after the period starts does not suspend the running of the period. A creditor may not tack one legal disability to another to extend the period. For the purposes of this subsection, a creditor is under a legal disability if the creditor is:
(1) younger than 18 years of age, regardless of whether the person is married; or
(2) of unsound mind.
Notes and commentary — not statutory text
History
Amended by Acts 1987, 70th Leg., ch. 1004, Sec. 1, eff. Sept. 1, 1987; Acts 1993, 73rd Leg., ch. 570, Sec. 12, eff. Sept. 1, 1993.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BC/htm/BC.24.htm
- Text hash
- sha256 e35a3fd3abf006bf733a368d317ee3ec64aa91473ee301ef111c96fd42b6aec2
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Business & Commerce Code
- Tex. Bus. & Com. Code § 24.005TRANSFERS FRAUDULENT AS TO PRESENT AND FUTURE CREDITORS.Printed as Section 24.005(a) or 24.006(a) | Section 24.005(a)(1) | Section 24.005(a)(2) or 24.006(a)
- Tex. Bus. & Com. Code § 24.006TRANSFERS FRAUDULENT AS TO PRESENT CREDITORS.Printed as Section 24.005(a) or 24.006(a) | Section 24.005(a)(2) or 24.006(a) | Section 24.006(b)
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.