New Jersey § 42:1a-30
Full text of New Jersey New Jersey Statutes § 42:1a-30, with citation guidance and answers to common questions.
§ 42:1a-30.
a. On application by a judgment creditor of a partner or of a partner's transferee,
a court having jurisdiction may charge the transferable interest of the judgment debtor
to satisfy the judgment. The court order charging the transferable interest of a partner or of a partner's
transferee shall be the sole remedy of a judgment creditor, who shall have no right
under this act or any other State law to interfere with the management or to force
dissolution of the partnership or to seek an order of the court requiring a foreclosure
sale of the transferable interest. 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. b. A charging order constitutes a right to receive distributions made with respect
to the judgment debtor's transferable interest in the partnership. c. At any time before foreclosure, an interest charged may be redeemed: (1) by the judgment debtor; (2) with property other than partnership property, by one or more of the other partners;
or (3) with partnership property, by one or more of the other partners with the consent
of all of the partners whose interests are not so charged. d. This act does not deprive a partner of a right under exemption laws with respect
to the partner's interest in the partnership. e. This section provides the exclusive remedy by which a judgment creditor of a partner
or partner's transferee may satisfy a judgment out of the judgment debtor's transferable
interest in the partnership.
Frequently Asked Questions About New Jersey § 42:1a-30
What does New Jersey Statutes § 42:1a-30 cover?
Section 42:1a-30 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 42:1a-30?
A common citation format is "New Jersey Statutes § 42:1a-30" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 42:1a-30 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.