Arizona Revised Statutes § 29-655 Rights Of Judgment Creditors Of A Member

29-655. Rights of judgment creditors of a member

A. On application to a court of competent jurisdiction by any judgment creditor of a member, the court may charge the member's interest in the limited liability company with payment of the unsatisfied amount of the judgment plus interest. To the extent so charged, the judgment creditor has only the rights of an assignee of the member's interest.

B. This chapter does not deprive any member of the benefit of any exemption laws applicable to his interest in the limited liability company.

C. This section provides the exclusive remedy by which a judgment creditor of a member may satisfy a judgment out of the judgment debtor's interest in the limited liability company.

Section: Previous  29-635  29-636  29-637  29-651  29-652  29-653  29-654  29-655  29-656  29-657  29-681  29-682  29-683  29-701  29-702  Next

Last modified: October 13, 2016