Moreover , Nevada is currently the only State in the Union to afford “ Charging Order ” protection to the shareholders of a “ For Profit Corporation ” as shown here .
But not all charging order protection is the same ; take a look at the language under the California Corporations Code ( LLC ) Section 17302 :
( a ) … The court may appoint a receiver of the share of the distributions due or to become due to the judgement debtor .
( b ) A charging order constitutes a lien on the judgement debtor ’ s assignable membership interest . The court may order a foreclosure on the membership interest subject to the charging order at anytime . ( emphasis added )
Be sure to choose the state in which you incorporate your “ parent company ” very carefully as not all state laws are the same !
For more information on how to properly “ Cover Your Assets ” please contact our offices today for your free asset protection consultation .
Sincerely , Jay Butler Managing Director
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