8345 - Interest of partner subject to charging order. - Pennsylvania Statutes

§ 8345. Interest of partner subject to charging order. (a) General rule.--On due application to a competent court by any judgment creditor of a partner, the court which entered the judgment, order or decree, or any other court, may charge the interest of the debtor partner with payment of the unsatisfied amount of the judgment debt with interest thereon and may then or later appoint a receiver of his share of the profits, and of any other money due or to fall due to him in respect of the partnership, and make all other orders, directions, accounts and inquiries which the debtor partner might have made or which the circumstances of the case may require. (b) Redemption.--The interest charged may be redeemed at any time before foreclosure or, in case of a sale being directed by the court, may be purchased without thereby causing a dissolution: (1) with separate property, by any one or more of the partners; or (2) with partnership property, by any one or more of the partners with the consent of all the partners whose interests are not so charged or sold. (c) Exemptions unaffected.--Nothing in this chapter shall be held to deprive a partner of his right, if any, under the exemption laws, as regards his interest in the partnership. Cross References. Section 8345 is referred to in section 8354 of this title.