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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

  • CS/SB 1152, Committee Substitute 1 (Current Bill Version) Posted 4/25/2011 at 2:21 PM

  • SB 1152, Original Filed Version Posted 2/16/2011 at 10:54 AM