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Georgia Charging Order Statutes And Opinions
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!!!GENERAL PARTNERSHIPS
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!!!LIMITED LIABILITY COMPANIES
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!!!Georgia Charging Order
* GENERAL PARTNERSHIPS: Ga. Code § 14-8-28. Partner’s interest subject to charging order; Ga. Code § 14-9-703. Rights of creditors
* LIMITED PARTNERSHIPS: Ga. Code § 14-9A-52. Rights of judgment creditors of limited partner
* LIMITED LIABILITY COMPANIES: Ga. Code § 14-11-504. Rights of judgment creditors
* GENERAL PARTNERSHIPS: Ga. Code § 14-8-28. Partner’s interest subject to charging order; Ga. Code § 14-9-703. Rights of creditors
* LIMITED PARTNERSHIPS: Ga. Code § 14-9A-52. Rights of judgment creditors of limited partner
* LIMITED LIABILITY COMPANIES: Ga. Code § 14-11-504. Rights of judgment creditors
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* GENERAL PARTNERSHIPS
Ga. Code § 14-8-28. Partner’s interest subject to charging order
(a) On due application to a competent court by any judgment creditor of a partner or of any assignee of an interest in the partnership, the court which entered the judgment, order, or decree, or any other court, may charge the interest of the debtor partner or such assignee with payment of the unsatisfied amount of such judgment debt with interest thereon and may then or later appoint a receiver of his share of the profits, and of any other money or other assets due or to fall due to him in respect of the partnership, and, subject to subsection (b) of this Code section, make all other orders, directions, accounts, and inquiries which the debtor partner or such assignee might have made, or which the circumstances of the case may require.
(b) An interest charged pursuant to subsection (a) of this Code section is not liable to be seized and sold by the judgment creditor under execution.
(c) The interest charged may be redeemed or purchased without thereby causing a dissolution:
(1) With separate property, by any one or more of the partners; or
(2) With the partnership property, by any one or more of the partners with the consent of all the partners whose interests are not so charged or sold.
(d) Nothing in this chapter shall be held to deprive a partner of his right, if any, under the exemption law, as regards his interest in the partnership.
(e) In addition to the remedy conferred by subsection (a) of this Code section, the interest of a partner in the partnership may be reached by a judgment creditor by process of garnishment served on the firm, provided that the complaint upon which the judgment was obtained was personally served upon such partner.
(f) Subject to subsection (b) of this Code section, the remedies conferred by subsections (a) and (e) of this Code section shall not be deemed exclusive of others which may exist.
Ga. Code § 14-9-703. Rights of creditors
(a) On application to a competent court by a judgment creditor of a partner or of any assignee of a partner, the court may charge the partnership interest of the partner or such assignee 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 partnership interest. This chapter shall not deprive any partner of the benefit of any exemption laws applicable to his partnership interest.
(b) The remedy conferred by this Code section shall not be deemed exclusive of others which may exist, including, without limitation, the right of a judgment creditor to reach the interest of a partner in the partnership by process of garnishment served on the partnership.
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* LIMITED PARTNERSHIPS
Ga. Code § 14-9A-52. Rights of judgment creditors of limited partner
(a) On due application to a court of competent jurisdiction by any judgment creditor of a limited partner, the court may charge the interest of the indebted limited partner with payment of the unsatisfied amount of the judgment debt and may appoint a receiver and make all other orders, directions, and inquiries which the circumstances of the case may require.
(b) The interest may be redeemed with the separate property of any general partner, but may not be redeemed with partnership property.
(c) The remedies conferred by subsection (a) of this Code section shall not be deemed exclusive of others which may exist.
(d) Nothing in this article shall be held to deprive a limited partner of his statutory exemption.
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* LIMITED LIABILITY COMPANIES
Ga. Code § 14-11-504. Rights of judgment creditors
(a) On application to a court of competent jurisdiction by any judgment creditor of a member or of any assignee of a member, the court may charge the limited liability company interest of the member or such assignee 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 limited liability company interest. This chapter does not deprive any member of the benefit of any exemption laws applicable to his or her limited liability company interest.
(b) The remedy conferred by this Code section shall not be deemed exclusive of others which may exist, including, without limitation, the right of a judgment creditor to reach the limited liability company interest of the member by process of garnishment served on the limited liability company, provided that, except as otherwise provided in the articles of organization or a written operating agreement, a judgment creditor shall have no right under this chapter or any other state law to interfere with the management or force dissolution of a limited liability company or to seek an order of the court requiring a foreclosure sale of the limited liability company interest.
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!!!Georgia Charging Order Opinions
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