[§428-504]  Rights of creditors.  (a) 
On application by a judgment creditor of a member of a limited liability
company or a member's transferee, a court having jurisdiction may order that
the distributional interest of the judgment debtor be used to satisfy the
judgment.  The court may appoint a receiver to carry out the provisions of the
charging order.



(b)  A charging order constitutes a lien on the
judgment debtor's distributional interest.  The court may order a foreclosure
of a lien on a distributional interest subject to the charging order at any
time.  A purchaser at the foreclosure sale has the rights of a transferee.



(c)  At any time before foreclosure, a
distributional interest in a limited liability company which is charged may be
redeemed:



(1)  By the judgment debtor;



(2)  With property other than the company's property,
by one or more of the other members; or



(3)  With the company's property, but only if
permitted by the operating agreement.



(d)  This chapter does not affect a member's
right under exemption laws with respect to the member's distributional interest
in a limited liability company.



(e)  This section provides the exclusive remedy
by which a judgment creditor of a member or a transferee may satisfy a judgment
out of the judgment debtor's distributional interest in a limited liability
company. [L 1996, c 92, pt of §1]