Okla. Stat. tit. 54, § 54-500-703A
This is the official text of Okla. Stat. tit. 54, § 54-500-703A, part of Oklahoma’s Stat. tit. 54, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 54,." Browse the sections below, each linked to its official government source.
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Rights of creditor of partner or transferee
Official statutory text
RIGHTS OF CREDITOR OF PARTNER OR TRANSFEREE.
(a) On application to a court of competent jurisdiction by any
judgment creditor of a partner or transferee, the court may charge
the transferable interest of the judgment debtor with payment of the
unsatisfied amount of the judgment with interest. To the extent so
charged, the judgment creditor has only the rights of a transferee.
The court may appoint a receiver of the share of the distributions
due or to become due to the judgment debtor in respect of the
partnership and make all other orders, directions, accounts, and
inquiries the judgment debtor might have made or which the
circumstances of the case may require to give effect to the charging
order.
(b) A charging order constitutes a lien on the judgment
debtor’s transferable interest. The court may order a foreclosure
upon the interest subject to the charging order at any time. The
purchaser at the foreclosure sale has the rights of a transferee.
(c) At any time before foreclosure, an interest charged may be
redeemed:
(1) by the judgment debtor;
(2) with property other than limited partnership property, by
one or more of the other partners; or
(3) with limited partnership property, by the limited
partnership with the consent of all partners whose interests are not
so charged.
(d) The Uniform Limited Partnership Act of 2010 does not
deprive any partner or transferee of the benefit of any exemption
Oklahoma Statutes - Title 54. Partnership Page 124
laws applicable to the partner’s or transferee’s transferable
interest.
(e) This section provides the exclusive remedy by which a
judgment creditor of a partner or transferee may satisfy a judgment
out of the judgment debtor’s transferable interest.
(a) On application to a court of competent jurisdiction by any
judgment creditor of a partner or transferee, the court may charge
the transferable interest of the judgment debtor with payment of the
unsatisfied amount of the judgment with interest. To the extent so
charged, the judgment creditor has only the rights of a transferee.
The court may appoint a receiver of the share of the distributions
due or to become due to the judgment debtor in respect of the
partnership and make all other orders, directions, accounts, and
inquiries the judgment debtor might have made or which the
circumstances of the case may require to give effect to the charging
order.
(b) A charging order constitutes a lien on the judgment
debtor’s transferable interest. The court may order a foreclosure
upon the interest subject to the charging order at any time. The
purchaser at the foreclosure sale has the rights of a transferee.
(c) At any time before foreclosure, an interest charged may be
redeemed:
(1) by the judgment debtor;
(2) with property other than limited partnership property, by
one or more of the other partners; or
(3) with limited partnership property, by the limited
partnership with the consent of all partners whose interests are not
so charged.
(d) The Uniform Limited Partnership Act of 2010 does not
deprive any partner or transferee of the benefit of any exemption
Oklahoma Statutes - Title 54. Partnership Page 124
laws applicable to the partner’s or transferee’s transferable
interest.
(e) This section provides the exclusive remedy by which a
judgment creditor of a partner or transferee may satisfy a judgment
out of the judgment debtor’s transferable interest.
Status: in_force · Read it on the official government site
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