18 Guam Code Ann. § 27404
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Terms Used In 18 Guam Code Ann. § 27404
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(1) On due application to a court of competent jurisdiction by any creditor of a limited partner, the court may charge the interest of the indebt- ed limited partner with payment of the unsatisfied amount of such claim; and may appoint a receiver and make all other orders, directions, and inquiries which the circumstances of the case may require.
(2) The interest may be redeemed with the separate property of any general partner, but may not be redeemed with the partnership property.
(3) The remedies conferred by paragraph (1) of this section shall not be deemed exclusive of others which may exist.
(4) Nothing in this Chapter shall be held to deprive a limited partner of his lawful exemption.
SOURCE: CC § 2498.