ULLCA503(d) Extinguishment By Satisfaction

Satisfaction Code ULLCASection503dPayJudgment

(d) At any time before foreclosure under subsection (c), the member or transferee whose transferable interest is subject to a charging order under subsection (a) may extinguish the charging order by satisfying the judgment and filing a certified copy of the satisfaction with the court that issued the charging order.

Reporter's Comment to Subsection (d)

This provision allows the judgment debtor to end the charging order without need for a hearing.


Paragraph (d) basically says that a debtor can avoid foreclosure of the charging order lien by paying off the judgment in full and filing with a court a certified copy of the satisfaction