Chapter 503
2013 -- H 5440
Enacted 07/17/13
A N A C T
RELATING TO
COURTS AND CIVIL PROCEDURE - PROCEDURE GENERALLY - LEVY AND
Introduced By: Representative Robert B. Jacquard
Date Introduced: February 13, 2013
It is enacted by the General
Assembly as follows:
SECTION 1. Section 9-26-4 of the General Laws in Chapter
9-26 entitled "Levy and
on Execution" is hereby amended to read as follows:
9-26-4. Property
exempt from attachment. -- The following goods and property shall
be exempt from attachment on any warrant of distress or
on any other writ, original, mesne, or
judicial:
(1) The necessary
wearing apparel of a debtor or of the debtor's family, if he or she has a
family.
(2) The working tools
of a debtor necessary in the debtor's usual occupation, not
exceeding in value the sum of one thousand five hundred
dollars ($1,500) two thousand dollars
($2,000), and the professional library of any professional
person in actual practice.
(3) The household
furniture, clothing, and family stores of a housekeeper in the whole,
debtor, including
beds and bedding, not exceeding in value the sum of nine thousand six hundred
dollars ($9,600).
(4) The bibles, school
books, and other books in use in the family, not exceeding in value
the sum of three hundred dollars ($300).
(5) The debtor's
interest in one lot or right of burial, as the case may be, in any cemetery.
(6) Wages due or
accruing to any sailor.
(7) Debts secured by
bills of exchange or negotiable promissory notes.
(8) (i) The entire salary or wages of
any debtor due or payable from any charitable
corporation, or from any person or corporation engaged in the
disbursement or administration of
any public charitable fund or money, whenever the
salaries or wages are to be paid or supplied,
directly or indirectly, from any fund or money appropriated or
contributed for the relief of the
poor or in aid of unemployment, and the debtor is the object
of the relief or aid.
(ii) The entire wages
or salary of any debtor due or payable from any employer, where
the debtor has been the object of relief from any state,
federal, or municipal corporation or agency
for a period of one year from and after the time when the
debtor ceases to be the object of such
relief.
(iii) The salary or
wages due or payable to any other debtor, not exceeding the sum of
fifty dollars ($50.00).
(9) The salary and
wages of the wife and the minor children of any debtor.
(10) Such other
property, real, personal, or mixed, in possession or actions as is or shall
be exempted from attachment and execution, either
permanently or temporarily, by general or
special acts, charters of incorporation, or by the policy of
the law.
(11) An individual
retirement account or individual retirement annuity as defined in
sections 408 and 408A of the Internal Revenue Code, 26 U.S.C.
sections 408 and 408A, and the
payments or distributions from such an account or annuity,
except that this exemption does not
apply to any of the following:
(i)
An order of a court pursuant to a judgment of divorce or separate maintenance.
(ii) An order of a
court concerning child support.
(iii) Contributions to
an individual retirement account or premiums on an individual
retirement annuity, including the earnings or benefits from
those contributions or premiums, that
constitute an excess contribution within the meaning of Section
4973 of the Internal Revenue
Code [26 U.S.C. section
4973_.
(12) The right or
interest of a person in an annuity, pension, profit sharing, or other
retirement plan protected by the Employee Retirement Income
Security Act of 1974, Public Law
93-406, 29 U.S.C. section 1001 et seq. This exemption
shall also apply to the operation of the
Federal Bankruptcy Code, as permitted by Section 522(d)(10)(E) of Title 11 of the
Code, 11 U.S.C. section 522(d)(10)(E).
This exemption shall not apply to the right or interest of a
person in an annuity, pension, profit sharing, or other
retirement plan to the extent that that right
or interest is subject to any of the following:
(i)
An order of the court pursuant to a judgment of divorce or separated
maintenance.
(ii) An order of a
court concerning child support.
This exemption shall
not apply to contributions to and the earnings of any of the
retirement plans enumerated in this subdivision that are not
qualified retirement plans as defined
by Section 401 of the Internal Revenue Code, 26 U.S.C.
section 401.
(13) Any and all motor
vehicles owned by the debtor not to exceed an aggregate total of
twelve thousand dollars ($12,000).
(14) Any and all
jewelry owned by the debtor not to exceed an aggregate total of two
thousand dollars ($2,000).
(15) An account
balance, right, or interest of a person in a "prepaid tuition
program" or a
"tuition savings
program" as defined in section 16-57-3(10) and (16), respectively. This
exemption shall not apply to a balance, right, or interest to
the extent that the balance, right, or
interest is subject to any of the following:
(i)
An order of a court pursuant to a judgment of divorce or separate maintenance;
(ii) An order of a
court concerning child support.
(16) In addition to the
exemptions herein, a debtor in bankruptcy may exempt an
additional five thousand dollars ($5,000) six thousand
five hundred dollars ($6,500) in any assets.
SECTION 2. This act shall take effect upon passage.
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LC00560
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