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§ 44-13-100 - Exemptions for purposes of bankruptcy and intestate insolvent estates

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O.C.G.A.44-13-100 (2010) 44-13-100.Exemptions for purposes of bankruptcy and intestate insolvent estates (a)Inlieu of the exemption provided in Code Section 44-13-1, any debtor whois a natural person may exempt, pursuant to this article, for purposesof bankruptcy, the following property:(1)Thedebtor's aggregate interest, not to exceed $10,000.00 in value, in realproperty or personal property that the debtor or a dependent of thedebtor uses as a residence, in a cooperative that owns property that thedebtor or a dependent of the debtor uses as a residence, or in a burialplot for the debtor or a dependent of the debtor. In the event title toproperty used for the exemption provided under this paragraph is in oneof two spouses who is a debtor, the amount of the exemption hereundershall be $20,000.00;(2)The debtor's right to receive:(A)A social security benefit, unemployment compensation, or a local public assistance benefit;(B)A veteran's benefit;(C)A disability, illness, or unemployment benefit;(D)Alimony,support, or separate maintenance, to the extent reasonably necessaryfor the support of the debtor and any dependent of the debtor;(E)Apayment under a pension, annuity, or similar plan or contract onaccount of illness, disability, death, age, or length of service, to theextent reasonably necessary for the support of the debtor and anydependent of the debtor; and(F)Apayment from an individual retirement account within the meaning ofTitle 26 U.S.C. Section 408 to the extent reasonably necessary for thesupport of the debtor and any dependent of the debtor;(2.1)Thedebtor's aggregate interest in any funds or property held on behalf ofthe debtor, and not yet distributed to the debtor, under any retirementor pension plan or system:(A)Whichis: (i) maintained for public officers or employees or both by the Stateof Georgia or a political subdivision of the State of Georgia or both;and (ii) financially supported in whole or in part by public funds ofthe State of Georgia or a political subdivision of the State of Georgiaor both;(B)Which is: (i) maintainedby a nonprofit corporation which is qualified as an exempt organizationunder Code Section 48-7-25 for its officers or employees or both; and(ii) financially supported in whole or in part by funds of the nonprofitcorporation;(C)To the extentpermitted by the bankruptcy laws of the United States similar benefitsfrom the private sector of such debtor shall be entitled to the sametreatment as those specified in subparagraphs (A) and (B) of thisparagraph,provided that the exempt ornonexempt status of periodic payments from such a retirement or pensionplan or system shall be as provided under subparagraph (E) of paragraph(2) of this subsection; or(D)An individual retirement account within the meaning of Title 26 U.S.C. Section 408;(3)The debtor's interest, not to exceed the total of $3,500.00 in value, in all motor vehicles;(4)Thedebtor's interest, not to exceed $300.00 in value in any particularitem, in household furnishings, household goods, wearing apparel,appliances, books, animals, crops, or musical instruments that are heldprimarily for the personal, family, or household use of the debtor or adependent of the debtor. The exemption of the debtor's interest in theitems contained in this paragraph shall not exceed $5,000.00 in totalvalue;(5)The debtor's aggregateinterest, not to exceed $500.00 in value, in jewelry held primarily forthe personal, family, or household use of the debtor or a dependent ofthe debtor;(6)The debtor's aggregateinterest, not to exceed $600.00 in value plus any unused amount of theexemption, not to exceed $5,000.00, provided under paragraph (1) of thissubsection, in any property;(7)Thedebtor's aggregate interest, not to exceed $1,500.00 in value, in anyimplements, professional books, or tools of the trade of the debtor orthe trade of a dependent of the debtor;(8)Any unmatured life insurance contract owned by the debtor, other than a credit life insurance contract;(9)Thedebtor's aggregate interest, not to exceed $2,000.00 in value, less anyamount of property of the estate transferred in the manner specified inSection 542(d) of U.S. Code Title 11, in any accrued dividend orinterest under, or loan or cash value of, any unmatured life insurancecontract owned by the debtor under which the insured is the debtor or anindividual of whom the debtor is a dependent;(10)Professionally prescribed health aids for the debtor or a dependent of the debtor; and(11)The debtor's right to receive, or property that is traceable to:(A)An award under a crime victim's reparation law;(B)Apayment on account of the wrongful death of an individual of whom thedebtor was a dependent, to the extent reasonably necessary for thesupport of the debtor and any dependent of the debtor;(C)Apayment under a life insurance contract that insured the life of anindividual of whom the debtor was a dependent on the date of suchindividual's death, to the extent reasonably necessary for the supportof the debtor and any dependent of the debtor;(D)Apayment, not to exceed $10,000.00, on account of personal bodilyinjury, not including pain and suffering or compensation for actualpecuniary loss, of the debtor or an individual of whom the debtor is adependent; or(E)A payment incompensation of loss of future earnings of the debtor or an individualof whom the debtor is or was a dependent, to the extent reasonablynecessary for the support of the debtor and any dependent of the debtor.(b)Pursuantto 11 U.S.C. Section 522(b)(1), an individual debtor whose domicile isin Georgia is prohibited from applying or utilizing 11 U.S.C. Section522(d) in connection with exempting property from his or her estate; andsuch individual debtor may exempt from property of his or her estateonly such property as may be exempted from the estate pursuant to 11U.S.C. Section 522(b)(2)(A) and (B). For the purposes of thissubsection, an 'individual debtor whose domicile is in Georgia' means anindividual whose domicile has been located in Georgia for the 180 daysimmediately preceding the date of the filing of the bankruptcy petitionor for a longer portion of such 180 day period than in any other place.(c)Theexemptions and protections contained in this article are extended tointestate insolvent estates in all cases where there is a living widowor child of the intestate.
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  • O.C.G.A. 44-13-100 (2010)
    44-13-100. Exemptions for purposes of bankruptcy and intestate insolvent estates


    (a) In lieu of the exemption provided in Code Section 44-13-1, any debtor who is a natural person may exempt, pursuant to this article, for purposes of bankruptcy, the following property:

    (1) The debtor's aggregate interest, not to exceed $10,000.00 in value, in real property or personal property that the debtor or a dependent of the debtor uses as a residence, in a cooperative that owns property that the debtor or a dependent of the debtor uses as a residence, or in a burial plot for the debtor or a dependent of the debtor. In the event title to property used for the exemption provided under this paragraph is in one of two spouses who is a debtor, the amount of the exemption hereunder shall be $20,000.00;

    (2) The debtor's right to receive:

    (A) A social security benefit, unemployment compensation, or a local public assistance benefit;

    (B) A veteran's benefit;

    (C) A disability, illness, or unemployment benefit;

    (D) Alimony, support, or separate maintenance, to the extent reasonably necessary for the support of the debtor and any dependent of the debtor;

    (E) A payment under a pension, annuity, or similar plan or contract on account of illness, disability, death, age, or length of service, to the extent reasonably necessary for the support of the debtor and any dependent of the debtor; and

    (F) A payment from an individual retirement account within the meaning of Title 26 U.S.C. Section 408 to the extent reasonably necessary for the support of the debtor and any dependent of the debtor;

    (2.1) The debtor's aggregate interest in any funds or property held on behalf of the debtor, and not yet distributed to the debtor, under any retirement or pension plan or system:

    (A) Which is: (i) maintained for public officers or employees or both by the State of Georgia or a political subdivision of the State of Georgia or both; and (ii) financially supported in whole or in part by public funds of the State of Georgia or a political subdivision of the State of Georgia or both;

    (B) Which is: (i) maintained by a nonprofit corporation which is qualified as an exempt organization under Code Section 48-7-25 for its officers or employees or both; and (ii) financially supported in whole or in part by funds of the nonprofit corporation;

    (C) To the extent permitted by the bankruptcy laws of the United States similar benefits from the private sector of such debtor shall be entitled to the same treatment as those specified in subparagraphs (A) and (B) of this paragraph,

    provided that the exempt or nonexempt status of periodic payments from such a retirement or pension plan or system shall be as provided under subparagraph (E) of paragraph (2) of this subsection; or

    (D) An individual retirement account within the meaning of Title 26 U.S.C. Section 408;

    (3) The debtor's interest, not to exceed the total of $3,500.00 in value, in all motor vehicles;

    (4) The debtor's interest, not to exceed $300.00 in value in any particular item, in household furnishings, household goods, wearing apparel, appliances, books, animals, crops, or musical instruments that are held primarily for the personal, family, or household use of the debtor or a dependent of the debtor. The exemption of the debtor's interest in the items contained in this paragraph shall not exceed $5,000.00 in total value;

    (5) The debtor's aggregate interest, not to exceed $500.00 in value, in jewelry held primarily for the personal, family, or household use of the debtor or a dependent of the debtor;

    (6) The debtor's aggregate interest, not to exceed $600.00 in value plus any unused amount of the exemption, not to exceed $5,000.00, provided under paragraph (1) of this subsection, in any property;

    (7) The debtor's aggregate interest, not to exceed $1,500.00 in value, in any implements, professional books, or tools of the trade of the debtor or the trade of a dependent of the debtor;

    (8) Any unmatured life insurance contract owned by the debtor, other than a credit life insurance contract;

    (9) The debtor's aggregate interest, not to exceed $2,000.00 in value, less any amount of property of the estate transferred in the manner specified in Section 542(d) of U.S. Code Title 11, in any accrued dividend or interest under, or loan or cash value of, any unmatured life insurance contract owned by the debtor under which the insured is the debtor or an individual of whom the debtor is a dependent;

    (10) Professionally prescribed health aids for the debtor or a dependent of the debtor; and

    (11) The debtor's right to receive, or property that is traceable to:

    (A) An award under a crime victim's reparation law;

    (B) A payment on account of the wrongful death of an individual of whom the debtor was a dependent, to the extent reasonably necessary for the support of the debtor and any dependent of the debtor;

    (C) A payment under a life insurance contract that insured the life of an individual of whom the debtor was a dependent on the date of such individual's death, to the extent reasonably necessary for the support of the debtor and any dependent of the debtor;

    (D) A payment, not to exceed $10,000.00, on account of personal bodily injury, not including pain and suffering or compensation for actual pecuniary loss, of the debtor or an individual of whom the debtor is a dependent; or

    (E) A payment in compensation of loss of future earnings of the debtor or an individual of whom the debtor is or was a dependent, to the extent reasonably necessary for the support of the debtor and any dependent of the debtor.

    (b) Pursuant to 11 U.S.C. Section 522(b)(1), an individual debtor whose domicile is in Georgia is prohibited from applying or utilizing 11 U.S.C. Section 522(d) in connection with exempting property from his or her estate; and such individual debtor may exempt from property of his or her estate only such property as may be exempted from the estate pursuant to 11 U.S.C. Section 522(b)(2)(A) and (B). For the purposes of this subsection, an 'individual debtor whose domicile is in Georgia' means an individual whose domicile has been located in Georgia for the 180 days immediately preceding the date of the filing of the bankruptcy petition or for a longer portion of such 180 day period than in any other place.

    (c) The exemptions and protections contained in this article are extended to intestate insolvent estates in all cases where there is a living widow or child of the intestate.

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