South Dakota § 48-7A-505 - Satisfaction of judgment out of judgment debtor's transferable interest in limited liability partnership.
Full text of South Dakota South Dakota Codified Laws § 48-7A-505 — Satisfaction of judgment out of judgment debtor's transferable interest in limited liability partnership., with citation guidance and answers to common questions.
§ 48-7A-505. Satisfaction of judgment out of judgment debtor's transferable interest in limited liability partnership.
(a) On application by a judgment creditor of a partner in a limited liability partnership or of a partner's transferee, and following notice to the limited liability partnership of the application, a court having jurisdiction may charge the transferable interest of the judgment debtor to satisfy the judgment.
(b) A charging order constitutes a lien on the judgment debtor's transferable interest in the limited liability partnership.
(c) An interest which is charged may be redeemed:
(1) By the judgment debtor;
(2) With property other than the limited liability partnership's property, by one or more of the other partners; or
(3) With the partnership's property, but only if permitted by the partnership agreement.
(d) This chapter does not deprive a partner of a right under exemption laws with respect to the partner's transferable interest in the partnership.
(e) This section provides the exclusive remedy by which a judgment creditor of a partner in a limited liability partnership or partner's transferee may satisfy a judgment out of the judgment debtor's transferable interest in the limited liability partnership. No other remedy, including foreclosure of the partner's transferable interest or a court order for directions, accounts, and inquiries that the debtor partner might have made, is available to the judgment creditor attempting to satisfy the judgment out of the judgment debtor's interest in the limited liability partnership.
(f) No creditor of a partner in a limited liability partnership, or a partner's assignee, has any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of a limited liability partnership.
Source: SL 2015, ch 229, § 1.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 48-7A-505
What does South Dakota Codified Laws § 48-7A-505 cover?
Section 48-7A-505 ("Satisfaction of judgment out of judgment debtor's transferable interest in limited liability partnership.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. 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 South Dakota § 48-7A-505?
A common citation format is "South Dakota Codified Laws § 48-7A-505" (South Dakota). 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 South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 48-7A-505 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota 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 South Dakota.