§ 18-2034. Judgment creditor - Rights and interests.

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.  A charging order entered by a court pursuant to this section shall in no event be convertible into a membership interest through foreclosure or other action.  This act does not deprive any member of the benefit of any exemption laws applicable to his or her membership interest.  This section shall be the sole and exclusive remedy of a judgment creditor with respect to the judgment debtor’s membership interest.

Added by Laws 1992, c. 148, § 35, eff. Sept. 1, 1992.  Amended by Laws 1993, c. 366, § 18, eff. Sept. 1, 1993; Laws 2004, c. 255, § 46, eff. Nov. 1, 2004.