Virginia Senate Bill 165 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 10 2012 - 25% progression, died in chamber
Action: 2012-02-06 - Senate: Failed to report (defeated) in Courts of Justice (7-Y 7-N)
Text: Latest bill text (Prefiled) [HTML]

Charging orders entered against a member of a limited liability company. Provides for the direct execution of judgment on the assets of a limited liability company when the judgment debtor is the 100 percent owner of that company. The bill also specifies that entry of a charging order does not preclude the judgment debtor from seeking other available legal and equitable remedies by which to execute the judgment against the membership share of the judgment debtor. Current law provides that a charging order is the exclusive remedy by which a judgment creditor may satisfy a judgment against the debtor's transferable interest in the company and that a judgment creditor does not have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the limited liability company.

Limited liability company; charging orders entered against sole member of company.

Sen. John Petersen [D]

2012-02-06 - Senate - Senate: Failed to report (defeated) in Courts of Justice (7-Y 7-N) (Y: 7 N: 7 NV: 0 Abs: 0) [FAIL]
2012-01-16 - Senate - Senate: Rereferred from Commerce and Labor (16-Y 0-N) (Y: 16 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2012-02-06		Senate: Failed to report (defeated) in Courts of Justice (7-Y 7-N)
2012-01-16		Senate: Rereferred to Courts of Justice
2012-01-16		Senate: Rereferred from Commerce and Labor (16-Y 0-N)
2012-01-10		Senate: Referred to Committee on Commerce and Labor
2012-01-10		Senate: Prefiled and ordered printed; offered 01/11/12 12100873D

Chapter	Article	Section	Citation Type	Statute Text
13	1	1041.1	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?121+sum+SB165
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?121+ful+SB165+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?121+vot+S02V0012+SB0165
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?121+vot+S03V0114+SB0165