Massachusetts Charging Order Statutes And Opinions
State StateMassachusetts
- GENERAL PARTNERSHIPS: M.G.L. 108A § 28. Creditor's remedy to reach partner's interest in partnership
- LIMITED PARTNERSHIPS: M.G.L. 109 § 41. Rights of judgment creditor
- LIMITED LIABILITY COMPANIES: M.G.L. 156C § 40. Judgment against member payable with interest in limited liability company
GENERAL PARTNERSHIPS
M.G.L. 108A § 28. Creditor's remedy to reach partner's interest in partnership
(1) On due application to the superior court by any judgment creditor of a partner, such court may charge the interest of the debtor partner 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 due or to fall due to him in respect of the partnership, and make all other orders, directions, accounts and inquiries which the debtor partner might have made, or which the circumstances of the case may require.
(2) The interest charged may be redeemed at any time before foreclosure, or in case of a sale being directed by the court may be purchased without thereby causing a dissolution:
(a) With separate property, by any one or more of the partners, or
(b) With 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.
(3) Nothing in this chapter shall be held to deprive a partner of his right, if any, under the exemption laws, as regards his interest in the partnership.
LIMITED PARTNERSHIPS
M.G.L. 109 § 41. Rights of judgment creditor
On application to a court of competent jurisdiction by any judgment creditor of a partner, the court may charge the partnership interest of the partner 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.
LIMITED LIABILITY COMPANIES
M.G.L. 156C § 40. Judgment against member payable with interest in limited liability company
On application to a court of competent jurisdiction by any judgment creditor of a member, the court may charge the limited liability company 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 limited liability company interest. This chapter does not deprive any member of the benefit of any exemption laws applicable to his limited liability company interest.