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A charging order is an order to an LLC or partnership to pay any distributions payable to an LLC member or partner instead to his or her creditor until a debt is satisfied.
Charging orders are frequently used when an LLC member or partner has pledged his or her interest to a creditor and is in default of the loan.
They differ substantially from liens on corporate stock because charging orders do not allow the creditor to foreclose on the LLC or partnership interest, only to claim distributions from the entity.
The creditor does not succeed to any other rights of the LLC member – voting, management, information – and is totally dependent on the entity to make decide to make distributions.
This program provides a real-world guide to the uses and limitations of charging orders in transactions and tips on enhancing their effectiveness.
February 20, 2017 2:30 PM Eastern
NCBA Member Price:
NC State Bar
Mandatory Continuing Legal Education (MCLE) and Certified Paralegal Education (CPE) (Total): 1.00