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Glossary of Legislative Terms

CS/SB 1152: Limited Liability Companies

GENERAL BILL by Banking and Insurance ; Simmons

Limited Liability Companies; Provides that a charging order against a member's limited liability company interest is the sole and exclusive remedy available to enforce a judgment creditor's unsatisfied judgment against a member or member's assignee. Provides that, in the case of a multimember limited liability company, certain remedies are unavailable to a judgment creditor attempting to satisfy a judgment. Provides for construction relating to secured creditor rights, specified principles of law and equity, and continuing enforcement jurisdiction of the court, etc.

Effective Date: upon becoming a law
 Last Action: 4/29/2011 Senate - Laid on Table, companion bill(s) passed, see CS/HB 253 (Ch. 2011-77) -SJ 600
Bill Text: Web Page | PDF
Senate Committee References:
  1. Commerce and Tourism (CM)
  2. Judiciary (JU)
  3. Banking and Insurance (BI)


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Bill History

Date Chamber Action
2/16/2011 Senate • Filed
3/1/2011 Senate • Referred to Commerce and Tourism; Judiciary; Banking and Insurance -SJ 87
3/8/2011 Senate • Introduced -SJ 87
3/11/2011 Senate • On Committee agenda-- Commerce and Tourism, 03/16/11, 1:30 pm, 401 Senate Office Building
3/16/2011 Senate • Favorable by Commerce and Tourism; YEAS 6 NAYS 0 -SJ 235
• Now in Judiciary -SJ 235
3/23/2011 Senate • On Committee agenda-- Judiciary, 03/28/11, 3:15 pm, 110 Senate Office Building
3/28/2011 Senate • Favorable by Judiciary; YEAS 6 NAYS 0 -SJ 299
3/29/2011 Senate • Now in Banking and Insurance -SJ 299
4/20/2011 Senate • On Committee agenda-- Banking and Insurance, 04/25/11, 8:00 am, 412 Knott Building
4/25/2011 Senate • CS by- Banking and Insurance; YEAS 10 NAYS 0 -SJ 471
• Pending reference review -under Rule 4.7(2) - (Committee Substitute)
• Placed on Calendar, on 2nd reading -SJ 471
4/26/2011 Senate • CS by Banking and Insurance read 1st time -SJ 482
4/27/2011 Senate • Placed on Special Order Calendar, 04/29/11
4/29/2011 Senate • Read 2nd time -SJ 600
• Substituted CS/HB 253 -SJ 600
• Laid on Table, companion bill(s) passed, see CS/HB 253 (Ch. 2011-77) -SJ 600