State Codes and Statutes

Statutes > New-york > Llc > Article-6 > 607

§  607.  Rights of creditors of members. (a) On application to a court  of competent jurisdiction by any judgment  creditor  of  a  member,  the  court  may  charge the membership interest of the member with payment of  the unsatisfied amount of the judgment with interest. To the  extent  so  charged, the judgment creditor has only the rights of an assignee of the  membership  interest.    This chapter does not deprive any member of the  benefit of any exemption  laws  applicable  to  his  or  her  membership  interest.    (b)  No creditor of a member shall have any right to obtain possession  of, or otherwise exercise legal or equitable remedies with  respect  to,  the property of the limited liability company.

State Codes and Statutes

Statutes > New-york > Llc > Article-6 > 607

§  607.  Rights of creditors of members. (a) On application to a court  of competent jurisdiction by any judgment  creditor  of  a  member,  the  court  may  charge the membership interest of the member with payment of  the unsatisfied amount of the judgment with interest. To the  extent  so  charged, the judgment creditor has only the rights of an assignee of the  membership  interest.    This chapter does not deprive any member of the  benefit of any exemption  laws  applicable  to  his  or  her  membership  interest.    (b)  No creditor of a member shall have any right to obtain possession  of, or otherwise exercise legal or equitable remedies with  respect  to,  the property of the limited liability company.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Llc > Article-6 > 607

§  607.  Rights of creditors of members. (a) On application to a court  of competent jurisdiction by any judgment  creditor  of  a  member,  the  court  may  charge the membership interest of the member with payment of  the unsatisfied amount of the judgment with interest. To the  extent  so  charged, the judgment creditor has only the rights of an assignee of the  membership  interest.    This chapter does not deprive any member of the  benefit of any exemption  laws  applicable  to  his  or  her  membership  interest.    (b)  No creditor of a member shall have any right to obtain possession  of, or otherwise exercise legal or equitable remedies with  respect  to,  the property of the limited liability company.

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