§425-129  Partner's transferable interestsubject to charging order.  (a)  On application by a judgment creditor of apartner or of a partner's transferee, a court having jurisdiction may chargethe transferable interest of the judgment debtor to satisfy the judgment.  Thecourt may appoint a receiver of the share of the distributions due or to becomedue to the judgment debtor in respect of the partnership and make all otherorders, directions, accounts, and inquiries the judgment debtor might have madeor which the circumstances of the case may require.

(b)  A charging order constitutes a lien on thejudgment debtor's transferable interest in the partnership.  The court mayorder a foreclosure of the interest subject to the charging order at any time. The purchaser at the foreclosure sale has the rights of a transferee.

(c)  At any time before foreclosure, aninterest charged may be redeemed:

(1)  By the judgment debtor;

(2)  With property other than partnership property, byone or more of the other partners; or

(3)  With partnership property, by one or more of theother partners with the consent of all of the partners whose interests are notso charged.

(d)  This part does not deprive a partner of aright under exemption laws with respect to the partner's interest in thepartnership.

(e)  This section provides the exclusive remedyby which a judgment creditor of a partner or partner's transferee may satisfy ajudgment out of the judgment debtor's transferable interest in the partnership.[L 1999, c 284, pt of §1]