43-38-507 - Judgment creditors of members. - Tennessee Statutes

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43-38-507. Judgment creditors of members.

On application to a court of competent jurisdiction by any judgment creditor of a member, the court may charge the member's financial rights 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 member's financial rights under § 43-38-503. This section does not deprive any member or assignee of financial rights of the benefit of any exemption laws applicable to the membership interest. This section is the sole and exclusive remedy of a judgment creditor with respect to the judgment debtor's membership interest.

[Acts 2004, ch. 534, § 17.]

State Codes and Statutes

Statutes > Tennessee > Title-43 > Chapter-38 > Part-5 > 43-38-507

43-38-507. Judgment creditors of members.

On application to a court of competent jurisdiction by any judgment creditor of a member, the court may charge the member's financial rights 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 member's financial rights under § 43-38-503. This section does not deprive any member or assignee of financial rights of the benefit of any exemption laws applicable to the membership interest. This section is the sole and exclusive remedy of a judgment creditor with respect to the judgment debtor's membership interest.

[Acts 2004, ch. 534, § 17.]

State Codes and Statutes

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State Codes and Statutes

Statutes > Tennessee > Title-43 > Chapter-38 > Part-5 > 43-38-507

43-38-507. Judgment creditors of members.

On application to a court of competent jurisdiction by any judgment creditor of a member, the court may charge the member's financial rights 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 member's financial rights under § 43-38-503. This section does not deprive any member or assignee of financial rights of the benefit of any exemption laws applicable to the membership interest. This section is the sole and exclusive remedy of a judgment creditor with respect to the judgment debtor's membership interest.

[Acts 2004, ch. 534, § 17.]