Legislation
SECTION 111
Rights of creditors of limited partner
Partnership (PTR) CHAPTER 39, ARTICLE 8
§ 111. Rights of creditors of limited partner. (1) On due application
to a court of competent jurisdiction by any judgment creditor of a
limited partner, the court may charge the interest of the indebted
limited partner with payment of the unsatisfied amount of the judgment
debt; and may appoint a receiver, and make all other orders, directions,
and inquiries which the circumstances of the case may require.
(2) The interest may be redeemed with the separate property of any
general partner, but may not be redeemed with partnership property.
(3) The remedies conferred by subdivision one of this section shall
not be deemed exclusive of others which may exist.
(4) Nothing in this act shall be held to deprive a limited partner of
his statutory exemption.
to a court of competent jurisdiction by any judgment creditor of a
limited partner, the court may charge the interest of the indebted
limited partner with payment of the unsatisfied amount of the judgment
debt; and may appoint a receiver, and make all other orders, directions,
and inquiries which the circumstances of the case may require.
(2) The interest may be redeemed with the separate property of any
general partner, but may not be redeemed with partnership property.
(3) The remedies conferred by subdivision one of this section shall
not be deemed exclusive of others which may exist.
(4) Nothing in this act shall be held to deprive a limited partner of
his statutory exemption.