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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

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

    Bill Text:   Web Page | PDF
    Analyses:   Banking and Insurance (Post-Meeting) 4/25/2011 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 253 (er) Limited Liability Companies Stargel Similar Last Action: 5/31/2011 Chapter No. 2011-77
    Location: Became Law     		Track This Bill

    Citations - Statutes (1)

    Citation Catchline Location in Bill Location In Bill Help
    608.433 Right of assignee to become member. Page 2 (pdf)

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

    Bill Text:   Web Page | PDF
    Analyses:   Commerce and Tourism (Pre-Meeting) 3/15/2011 (pdf)
    Commerce and Tourism (Post-Meeting) 3/16/2011 (pdf)
    Judiciary (Pre-Meeting) 3/25/2011 (pdf)
    Judiciary (Post-Meeting) 3/29/2011 (pdf)
    Banking and Insurance (Pre-Meeting) 4/21/2011 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 253 (e1) Limited Liability Companies Stargel Similar Last Action: 5/31/2011 Chapter No. 2011-77
    Location: Became Law     		Track This Bill

    Committee Amendments (2)

    Amendment Sponsor Filed Last Committee Action Format
    147074 - Amendment
    Delete line 118 and insert:     		Banking and Insurance
    (Richter)     		4/21/2011
    1:36 PM     		Replaced by Committee Substitute
    4/25/2011     		Web Page
    PDF
    526356 - Amendment
    Between lines 124 and 125 insert:     		Banking and Insurance
    (Richter)     		4/21/2011
    1:36 PM     		Replaced by Committee Substitute
    4/25/2011     		Web Page
    PDF

    Committee Votes (3)

    Date Committee Result
    3/16/2011 1:30 PM Commerce and Tourism 6 Yeas - 0 Nays
    3/28/2011 3:15 PM Judiciary 6 Yeas - 0 Nays
    4/25/2011 8:00 AM Banking and Insurance 10 Yeas - 0 Nays

    Citations - Statutes (1)

    Citation Catchline Location in Bill Location In Bill Help
    608.433 Right of assignee to become member. Page 2 (pdf)

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