Oklahoma § 18-2034 Judgment creditor - Rights - Exclusive remedy.

Oklahoma Statutes

§ 18-2034 — Judgment creditor - Rights - Exclusive remedy.

Oklahoma·Title 18 Corporations

JUDGMENT CREDITOR; RIGHTS; EXCLUSIVE REMEDY On application to a court of competent jurisdiction by any judgment creditor of a member, the court may charge the capital 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 capital 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. The Oklahoma Limited Liability Company Act does not deprive any member of the benefit of any exemption laws applicable to his or her membership or capital interest. This section shall be the sole and exclusive remedy of a judgment creditor with respect to the judgment debto

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JUDGMENT CREDITOR; RIGHTS; EXCLUSIVE REMEDY On application to a court of competent jurisdiction by any judgment creditor of a member, the court may charge the capital 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 capital 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. The Oklahoma Limited Liability Company Act does not deprive any member of the benefit of any exemption laws applicable to his or her membership or capital interest. This section shall be the sole and exclusive remedy of a judgment creditor with respect to the judgment debtor's membership and capital interest, whether the limited liability company has one member or more than one member.

Oklahoma § 18-2034 (Judgment creditor - Rights - Exclusive remedy.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

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; Laws 2017, c. 323, § 47, eff. Nov. 1, 2017.