Virginia § 13.1-1041.1 Member's transferable interest subject to charging order

Virginia Statutes

§ 13.1-1041.1 — Member's transferable interest subject to charging order

Virginia § 13.1-1041.1

Title 13.1CORPORATIONS

Ch. 12VIRGINIA LIMITED LIABILITY COMPANY ACT

Art. 7RIGHTS OF AND ASSIGNMENT BY MEMBERS

This text of Virginia § 13.1-1041.1 (Member's transferable interest subject to charging order) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 13.1-1041.1 (2026).

Text

A.On application by a judgment creditor of a member or of a member's assignee, a court having jurisdiction may charge the transferable interest of the judgment debtor to satisfy the judgment. To the extent so charged, the judgment creditor has only the right to receive any distribution or distributions to which the judgment debtor would otherwise have been entitled in respect of the interest.

B.A charging order constitutes a lien on the judgment debtor's transferable interest in the limited liability company.

C.This chapter does not deprive a member or a member's assignee of a right under exemption laws with respect to the judgment debtor's interest in the limited liability company.

D.The entry of a charging order is the exclusive remedy by which a judgment creditor of a member or o

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A. On application by a judgment creditor of a member or of a member's assignee, a court having jurisdiction may charge the transferable interest of the judgment debtor to satisfy the judgment. To the extent so charged, the judgment creditor has only the right to receive any distribution or distributions to which the judgment debtor would otherwise have been entitled in respect of the interest.

B. A charging order constitutes a lien on the judgment debtor's transferable interest in the limited liability company.

C. This chapter does not deprive a member or a member's assignee of a right under exemption laws with respect to the judgment debtor's interest in the limited liability company.

D. The entry of a charging order is the exclusive remedy by which a judgment creditor of a member or of a member's assignee may satisfy a judgment out of the judgment debtor's transferable interest in the limited liability company.

E. No creditor of a member or of a member's assignee shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the limited liability company.