Tennessee § 61-3-703 - Charging order.
Full text of Tennessee Tennessee Code Annotated § 61-3-703 — Charging order., with citation guidance and answers to common questions.
§ 61-3-703. Charging order.
On application by a judgment creditor of a partner or transferee, a court may enter a charging order against the transferable interest of the judgment debtor for the unsatisfied amount of the judgment. A charging order constitutes a lien on a judgment debtor's transferable interest and requires the limited partnership to pay over to the person to which the charging order was issued any distribution that otherwise would be paid to the judgment debtor. To the extent necessary to effectuate the collection of distributions pursuant to a charging order in effect under subsection (a), the court may: Appoint a receiver of the distributions subject to the charging order, with the power to make all inquiries the judgment debtor might have made; and Make all other orders necessary to give effect to the charging order. The partner or transferee whose transferable interest is subject to a charging order under subsection (a) may extinguish the charging order by satisfying the judgment and filing a certified copy of the satisfaction with the court that issued the charging order. This chapter does not deprive any partner or transferee of the benefit of any exemption law applicable to the transferable interest of the partner or transferee. This section provides the exclusive remedy by which a person, other than the partnership itself, seeking in the capacity of a judgment creditor to enforce a judgment against a partner or transferee may satisfy the judgment from the judgment debtor's transferable interest. Acts 2017, ch. 440, § 1.
Frequently Asked Questions About Tennessee § 61-3-703
What does Tennessee Code Annotated § 61-3-703 cover?
Section 61-3-703 ("Charging order.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. 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 Tennessee § 61-3-703?
A common citation format is "Tennessee Code Annotated § 61-3-703" (Tennessee). 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 Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 61-3-703 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee 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 Tennessee.