There Is a Newer Version of the New York Consolidated Laws
2012 New York Consolidated Laws
LLC - Limited Liability Company Law
Article 6 - (601 - 611) MEMBERS AND MEMBERSHIP
607 - Rights of creditors of members.
NY LLC L § 607 (2012) What's This?
§ 607. Rights of creditors of members. (a) On application to a court
of competent jurisdiction by any judgment creditor of a member, the
court may charge the membership 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
membership interest. This chapter does not deprive any member of the
benefit of any exemption laws applicable to his or her membership
interest.
(b) No creditor of a member 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.
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