Amends subsection (a)(8) of GS 1C-1601 to clarify that the property exemption which allows a debtor to protect certain property from the claims of creditors applies to compensation for bodily personal injury (was, personal injury). Amends subsection (d) to provide that provisions regarding recent purchases include intangible personal property as well as tangible personal property. Applies to claims arising on or after the effective date.
Amends GS 58-24-85 to provide that any money or other benefits paid by a fraternal benefit society to the estate of an insured memberbecomes a part of the estate of the member and is available for the payment of debts. Applies to benefits paid or payable on or after the effective date.
Effective October 1, 2013.
MODIFY EXEMPTIONS/FRATERNAL INS. BENEFITS.
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| View NCGA Bill Details(link is external) | 2013-2014 Session |
A BILL TO BE ENTITLED AN ACT AMENDING THE EXEMPTION LAWS AND CONFORMING THE STATUTE GOVERNING THE ATTACHMENT OF INSURANCE BENEFITS PAID BY FRATERNAL BENEFIT SOCIETIES TO THAT FOR LIFE INSURANCE.Intro. by Clodfelter.
Status: Ref To Com On Judiciary II (Senate Action) (Apr 1 2013)
Bill History:
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Thu, 28 Mar 2013 Senate: Filed(link is external)
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Mon, 1 Apr 2013 Senate: Passed 1st Reading(link is external)
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Mon, 1 Apr 2013 Senate: Ref To Com On Judiciary II(link is external)
S 540
Bill Summaries:
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Bill S 540 (2013-2014)Summary date: Mar 28 2013 - View Summary
View: All Summaries for Bill