The bill amends the Uniform Limited Liability Company Act to clarify the provisions regarding charging orders. It expands the definition of who can apply for a charging order by including not only judgment creditors of a member or transferee but also any other owner of a membership interest in a limited liability company. The bill specifies that a charging order constitutes a lien on the judgment debtor's membership interest and limits the judgment creditor's rights to receiving distributions that the judgment debtor would otherwise be entitled to. Additionally, it establishes that the entry of a charging order is the exclusive remedy for a judgment creditor seeking to satisfy a judgment from a member's or another owner's membership interest.

Furthermore, the bill introduces provisions that prevent the foreclosure of a charging order lien under this subchapter or any other law, ensuring that a creditor does not gain possession or exercise legal remedies over the property of the limited liability company. It also clarifies that the section applies to both single-member and multiple-member limited liability companies, while preserving the benefits of any applicable exemptions for members or owners of membership interests. Overall, the amendments aim to provide clearer guidelines and protections for both creditors and members within limited liability companies.