Section 684.9. Extinguishment of cause of action.

  A cause of action with respect to a fraudulent transfer or obligation under this chapter is extinguished unless action is brought as follows:

  1.  Under section 684.4, subsection 1, paragraph “a”, within five 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 684.4, subsection 1, paragraph “b”, or section 684.5, subsection 1, within five years after the transfer was made or the obligation was incurred.

  3.  Under section 684.5, subsection 2, within one year after the transfer was made or the obligation was incurred.

94 Acts, ch 1121, §13