Texas Business Organizations Code - Section 101.112. Judgment Creditor; Charge Of Membership Interest
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§ 101.112. JUDGMENT CREDITOR; CHARGE OF MEMBERSHIP
INTEREST. (a) On application by a judgment creditor of a member of
a limited liability company or any other owner of a membership
interest in a limited liability company, a court may charge the
membership interest of the member or owner, as appropriate, with
payment of the unsatisfied amount of the judgment.
(b) If a court charges a membership interest with payment of
a judgment as provided by Subsection (a), the judgment creditor has
only the rights of an assignee of the membership interest.
(c) This section may not be construed to deprive a member of
a limited liability company or any other owner of a membership
interest in a limited liability company of the benefit of any
exemption laws applicable to the membership interest of the member
or owner.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 101.105 101.106 101.107 101.108 101.109 101.110 101.111 101.112 101.113 101.114 101.151 101.152 101.153 101.154 101.155
Last modified: August 11, 2007
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