On application to a court of competent jurisdiction by a judgment creditor of a member, the court may charge the membership interest of the member with payment of the unsatisfied amount of judgment with interest. To the extent so charged, the judgment creditor has only the rights of an assignee of the membership interest. This Act does not deprive a member of the benefit of any exemption laws applicable to that member's membership interest. [1993, c. 718, Pt. A, §1 (NEW).]
SECTION HISTORY
1993, c. 718, §A1 (NEW). 2009, c. 629, Pt. A, §1 (RP). 2009, c. 629, Pt. A, §3 (AFF).
On application to a court of competent jurisdiction by a judgment creditor of a member, the court may charge the membership interest of the member with payment of the unsatisfied amount of judgment with interest. To the extent so charged, the judgment creditor has only the rights of an assignee of the membership interest. This Act does not deprive a member of the benefit of any exemption laws applicable to that member's membership interest. [1993, c. 718, Pt. A, §1 (NEW).]
SECTION HISTORY
1993, c. 718, §A1 (NEW). 2009, c. 629, Pt. A, §1 (RP). 2009, c. 629, Pt. A, §3 (AFF).
On application to a court of competent jurisdiction by a judgment creditor of a member, the court may charge the membership interest of the member with payment of the unsatisfied amount of judgment with interest. To the extent so charged, the judgment creditor has only the rights of an assignee of the membership interest. This Act does not deprive a member of the benefit of any exemption laws applicable to that member's membership interest. [1993, c. 718, Pt. A, §1 (NEW).]
SECTION HISTORY
1993, c. 718, §A1 (NEW). 2009, c. 629, Pt. A, §1 (RP). 2009, c. 629, Pt. A, §3 (AFF).
