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ASSET
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EXEMPTION DESCRIPTION
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LAW SECTION
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Homestead
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Homestead: 320 acres if farm, 1 acre outside municipality, 1/4 acre
in municipality $100,000/200,000
Must record homestead declaration before filing for bankruptcy
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70-32-104, 70-32-201,
70-32-216
70-32-105
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Insurance
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Annuity contract proceeds to $350 per month
Disability or illness proceeds, avails or benefits
Fraternal benefits society benefits
Group life insurance or proceeds
Hail insurance benefits
Life insurance proceeds if clause prohibits proceeds from being used
to pay beneficiary’s creditors
Medical, surgical or hospital care benefits
Unmatured life insurance contracts to $4000
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33-15-514
25-13-608(1)(d), 33-15-513
33-7-522
33-15-512
80-2-245
33-20-120
25-13-608(1)(e)
25-13-609(4)
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Miscellaneous
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Alimony, child support
Property of business partnership
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25-13-608(1)(f)
35-10-502
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Pensions
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ERISA-qualified benefits deposited over 1 year before filing
bankruptcy in excess of 15% of debtor’s annual income
Firefighters
Game wardens
Highway patrol officers
Judges
Police officers
Public employees
Sheriffs
Teachers
University system employees
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31-2-106
19-11-612(1), 19-13-1004
19-8-805(2)
19-6-705(2)
19-5-704
19-9-1006, 19-10-504(1)
19-3-105(1)
19-7-502(2)
19-4-706(2)
19-21-212
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Personal Property
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Appliances, household furnishings, goods, animals with feed, crops,
musical instruments, books, firearms, sporting goods, clothing &
jewelry to $600 per item, $4500 total
Burial plot
Cooperative association shares to $500 value
Health aids (professionally prescribed)
Motor vehicle to $2500
Proceeds for damaged or lost exempt property for 6 months after
received
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25-13-609(1)
25-13-608(1)(g)
35-15-404
25-13-608(1)(a)
25-13-609(2)
25-13-610
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Public benefits
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Aid to aged, disabled, AFDC
Crime victims’ compensation
Local public assistance
Silicosis benefits
Social security
Subsidized adoption benefits
Unemployment compensation
Veterans’ benefits
Vocational rehabilitation to the blind
Workers’ compensation
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53-2-606
53-9-129
25-13-608(1)(b)
39-73-110
25-13-608(1)(b)
53-2-607
31-2-106(2), 39-51-3105
25-13-608(1)(1)
53-2-607
39-71-743
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Tools of trade
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Implements, books & tools of trade to $3000
Uniforms, arms, accoutrements needed to carry out government
functions
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25-13-609(3)
25-13-613(b)
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Wages
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Minimum 75% of earned but unpaid wages; bankruptcy judge may
authorize more for low-income debtors
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25-13-614
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WILD CARD
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NONE
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