8.6A-110 - A-110. Limitation of actions. - Virginia Statutes

§ 8.6A-110. Limitation of actions.

(1) Except as provided in subsection (2), an action under this title againsta buyer, auctioneer, or liquidator must be commenced within one year afterthe date of the bulk sale.

(2) If the buyer, auctioneer, or liquidator conceals the fact that the salehas occurred, the limitation is tolled and an action under this title may becommenced within the earlier of (i) one year after the person bringing theaction discovers that the sale has occurred or (ii) one year after the personbringing the action should have discovered that the sale has occurred, but nolater than two years after the date of the bulk sale. Complete noncompliancewith the requirements of this title does not of itself constitute concealment.

(3) An action under § 8.6A-107(11) must be commenced within one year afterthe alleged violation occurs.

(1997, c. 121.)