§ 7-12-39 - Partner's interest subject to charging order.
SECTION 7-12-39
§ 7-12-39 Partner's interest subject tocharging order. – (a) On due application to the superior court by any judgment creditor of apartner, the court may charge the interest of the debtor partner with paymentof the unsatisfied amount of the judgment debt with interest on it; and maythen or later appoint a receiver of his or her share of the profits, and of anyother money due or to fall due to him or her in respect of the partnership, andmake all other orders, directions, accounts, and inquiries which the debtorpartner might have made, or which the circumstances of the case require.
(b) The interest charged may be redeemed at any time beforeforeclosure, or in case of a sale being directed by the court may be purchasedwithout causing a dissolution:
(1) With separate property, by any one or more of thepartners; or
(2) With partnership property, by any one or more of thepartners with the consent of all the partners whose interests are not socharged or sold.
(c) Nothing in §§ 7-12-12 – 7-12-55 deprives apartner of his or her right, if any, under the exemption laws, regarding hisinterest in the partnership.