LD 1609
pg. 101
Page 100 of 146 PUBLIC Law Chapter 543 Page 102 of 146
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LR 1469
Item 1

 
2.__Charging order a lien; foreclosure; rights of transferee.__
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.

 
3.__Redemption before foreclosure.__At any time before
foreclosure, an interest charged may be redeemed:

 
A.__By the judgment debtor;

 
B.__With property other than limited partnership property,
by one or more of the other partners; or

 
C.__With limited partnership property, by the limited
partnership with the consent of all partners whose interests
are not so charged.

 
4.__Exemption laws applicable.__This chapter does not deprive
any partner or transferee of the benefit of any exemption laws
applicable to the partner's or transferee's transferable
interest.

 
5.__Exclusive remedy.__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.

 
§1384.__Power of estate of deceased partner

 
If a partner dies, the deceased partner's personal
representative or other legal representative may exercise the
rights of a transferee as provided in section 1382 and, for the
purposes of settling the estate, may exercise the rights of a
current limited partner under section 1344.

 
SUBCHAPTER 8

 
DISSOLUTION

 
§1391.__Nonjudicial dissolution

 
Except as otherwise provided in section 1392, a limited
partnership is dissolved, and its activities must be wound up,
only upon the occurrence of any of the following:

 
1.__Event specified in partnership agreement.__The happening
of an event specified in the partnership agreement;


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