Bill No.: SF0024 Drafter: LNS
LSO No.: 12LSO-0100 Effective Date: July 1, 2012
Enrolled Act No.: SEA0032
Chapter No.: CH0069
Prime Sponsor: Joint Judiciary Interim Committee
Catch Title: Property exempt from execution.
Subject: Amounts of property exempt from execution and attachment.
Summary/Major Elements:
· Statutory exemptions from execution and attachment allow individuals who have taken out bankruptcy to retain a certain value in their home and in other designated property.
· This act increases the value of property which is not subject to bankruptcy or other collection proceedings. It also clarifies specific individual retirement accounts that are exempt from execution.