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Senate committee approves temporary lien on closely held LLC interests to preserve judgments
Summary
The Senate Insurance & Commerce Committee approved SB148, which places a temporary lien on ownership interests in closely held LLCs when a judgment creditor holds an existing judgment — intended to prevent rapid asset transfers while a court schedules a hearing.
The Senate Insurance & Commerce Committee approved Senate Bill 148 after a brief presentation and limited questioning. Sponsor Senator Hester told the committee the bill would allow a judgment creditor to place a temporary lien on ownership interests in closely held limited liability companies (LLCs) so assets can’t be shifted out of reach while a court sets a hearing.
Hester illustrated the problem with an example of an individual who…
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