Browse Arkansas Code titles and sections

16-66-217. Election of bankruptcy exemptions.

Arkansas Code — all titles (historical 2020) · legal_authorities

16-66-217. Election of bankruptcy exemptions.

16-66-217. Election of bankruptcy exemptions. Residents of this state having the right to claim exemptions in a bankruptcy proceeding pursuant to 11 U.S.C. § 522 shall have the right to elect either: (i) The property exemptions provided by the Constitution and the laws of the State of Arkansas; or (ii) The property exemptions provided by 11 U.S.C. § 522(d).

Source: Arkansas Code — historical release 78 (November 6, 2020) · 16-66-217

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.

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Stable record: arkansas_code:legal_authorities:16-66-217
Source file: gov.ar.code.title.16.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 658a8e85551f9f1a3b20822f611fc69e7309b2073e662d2e4a7eeac3021e842f

Source location: content.xml paragraph 26421

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Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 522 — Exemptions

**(a)** In this section— (1) “dependent” includes spouse, whether or not actually dependent; and (2) “value” means fair market value as of the date of the filing of the petition or, with respect to property that becomes property of the estate after such date, as of the date such property becomes property of the estate. **(b)** (1) Notwithstanding [section 541 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section541&num=0&edition=prelim), an individual debtor may exempt from property of the estate the property listed in either paragraph (2) or, in the alternative, paragraph (3) of this subsection. In joint cases filed under [section 302 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section302&num=0&edition=prelim) and individual cases filed under section 301 or 303 of this title by or against debtors who are husband and wife, and whose estates are ordered to be jointly administered under Rule 1015(b) of the Federal Rules of Bankruptcy Procedure, one debtor may not elect to exempt property listed in paragraph (2) and the other debtor elect to exempt property listed in paragraph (3) of this subsection. If the parties cannot agree on the alternative to be elected, they shall be deemed to elect paragraph (2), where such election is permitted under the law of the jurisdiction where the case is filed. (2) Property listed in this paragraph is property that is specified under subsection (d), unless the State law that is applicable to the debtor under paragraph (3)(A) specifically does not so authorize. (3) Property listed in this paragraph is— (A) subject to subsections (o) and (p), any property that is exempt under Federal law, other than subsection (d) of this section, or State or local law th

Source: Supplied U.S. Code snapshot — release unconfirmed · 11 U.S.C. § 522

Stored review status: release_metadata_unconfirmed. The source passage cites 11 U.S.C. § 522. This identifies an authority to review, not proof of applicability.

Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 522 — Exemptions

Page 131 TITLE 11—BANKRUPTCY § 522 tive date, except as otherwise provided, see section 1501 of Pub. L. 109–8, set out as a note under section 101 of this title. EFFECTIVE DATE OF 1986 AMENDMENT Amendment by Pub. L. 99–554 effective 30 days after Oct. 27, 1986, see section 302(a) of Pub. L. 99–554, set out as a note under section 581 of Title 28, Judiciary and Judicial Procedure. EFFECTIVE DATE OF 1984 AMENDMENT Amendment by Pub. L. 98–353 effective with respect to cases filed 90 days after July 10, 1984, see section 552(a) of Pub. L. 98–353, set out as a note under section 101 of this title. CONFIDENTIALITY OF TAX INFORMATION Pub. L. 109–8, title III, § 315(c), Apr. 20, 2005, 119 Stat. 91, provided that: ‘‘(1) Not later than 180 days after the date of the en- actment of this Act [Apr. 20, 2005], the Director of the Administrative Office of the United States Courts shall establish procedures for safeguarding the confiden- tiality of any tax information required to be provided under this section. ‘‘(2) The procedures under paragraph (1) shall include restrictions on creditor access to tax information that is required to be provided under this section. ‘‘(3) Not later than 540 days after the date of enact- ment of this Act, the Director of the Administrative Office of the United States Courts shall prepare and submit to the President pro tempore of the Senate and the Speaker of the House of Representatives a report that— ‘‘(A) assesses the effectiveness of the procedures es- tablished under paragraph (1); and ‘‘(B) if appropriate, includes proposed legislation to— ‘‘(i) further protect the confidentiality of tax in- formation; and ‘‘(ii) provide penalties for the improper use by any person of the tax information required to be provided unde

Source: Supplied 2024 U.S. Code historical extraction · 11 U.S.C. § 522

Stored review status: historical_2024_not_currentness_verified. The source passage cites 11 U.S.C. § 522. This identifies an authority to review, not proof of applicability.