AR SB319

Amends Arkansas Code § 4-38-503 to clarify that charging orders are the exclusive remedy for judgment creditors to satisfy debts from an LLC member's membership interest

Prohibits foreclosure on charging order liens under this subchapter or any other law, limiting creditors to receiving only distributions the judgment debtor would otherwise be entitled to

Protects LLC property by preventing creditors from obtaining possession of or exercising legal or equitable remedies against the limited liability company's assets

Preserves exemptions applicable to membership interests and does not invalidate written security agreements between members and creditors executed in compliance with the LLC's organizational documents

Applies equally to both single-member and multiple-member limited liability companies