The Georgia Exemption Statute - O.C.G.A. 44-13-100

Property You May Protect in a Georgia Bankruptcy Filing

44-13-100.

    (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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