New York Statutes
§ 607 — Rights of creditors of members
§ 607. Rights of creditors of members.
(a)On application to a court\nof competent jurisdiction by any judgment creditor of a member, the\ncourt may charge the membership interest of the member with payment of\nthe unsatisfied amount of the judgment with interest. To the extent so\ncharged, the judgment creditor has only the rights of an assignee of the\nmembership interest. This chapter does not deprive any member of the\nbenefit of any exemption laws applicable to his or her membership\ninterest.\n (b) No creditor of a member shall have any right to obtain possession\nof, or otherwise exercise legal or equitable remedies with respect to,\nthe property of the limited liability company.\n
Free access — add to your briefcase to read the full text and ask questions with AI
New York § 607 (Rights of creditors of members) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
9
§ 602
Admission of members