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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 50. Alaska Revised Limited Liability Company Act
- Section 380. Rights of Judgment Creditors.
previous: Section 375
. Assignment of Interest in Company.
next: Section 385
. Rights of Estate or Legal Representative of Deceased or Incompetent Member.
AS 10.50.380. Rights of Judgment Creditors.
- (a) If a judgment creditor of a limited liability company member applies to a court of competent jurisdiction, the court
may charge the member's limited liability company interest for payment of the unsatisfied amount of the judgment.
- (b) To the extent a limited liability company interest is charged under (a) of this section, the judgment creditor has
only the rights of an assignee of the member's interest.
- (c) This section provides the exclusive remedy that a judgment creditor of a member or a member's assignee may use to
satisfy a judgment out of the judgment debtor's interest in the limited liability company. Other remedies, including
foreclosure on the member's limited liability company interest and a court order for directions, accounts, and
inquiries that the debtor member might have made, are not available to the judgment creditor attempting to satisfy a
judgment out of the judgment debtor's interest in the limited liability company and may not be ordered by a court.
- (d) This section does not deprive a member of the benefit of an exemption applicable to the member's membership interest.
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