Under that Act, a "limited liability company" is defined as one that is formed under the laws of the particular state. However, the provision relating to creditors' rights, and thus to charging orders, discusses only a "limited liability company". Morehouse claimed that the charging order should not be entered against the Georgia LLC under Maryland law, but instead Georgia law relating to charging orders should apply. Savannah Harbor is a foreign limited liability company. Notably, the charging statute that GACC relies on does not reference foreign limited liability companies and the term, “limited liability company.” is defined as an unincorporated business “organized and existing under [the Mary land Limited Liability Company Act].” See id.

Source: Forbes March 23, 2018 03:33 UTC