16-66-218. Exemptions from execution under federal bankruptcy proceedings.

16-66-218. Exemptions from execution under federal bankruptcy proceedings. (a) The following property shall be exempt from execution under bankruptcy proceedings pursuant to Pub. L. No. 95-598: (1) The unmarried debtor's aggregate interest, not exceeding eight hundred dollars ($800) in value, and the married debtor's aggregate interest, not exceeding one thousand two hundred fifty dollars ($1,250) in value, in real 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; (2) The debtor's interest, not to exceed one thousand two hundred dollars ($1,200) in one (1) motor vehicle; (3) The debtor's aggregate interest in the debtor's or the debtor's spouse's wedding bands, including diamonds mounted thereon not exceeding one-half (½) carat in weight; (4) The debtor's aggregate interest, not to exceed seven hundred fifty dollars ($750) in value in any implements, professional books, or tools, of the trade of the debtor or the trade of a dependent of the debtor. (b) The exemptions granted in subsection (a) of this section shall be in addition to the present exemptions granted by Arkansas law as listed below: (1) The personal property of an unmarried person not the head of a family not exceeding a value of two hundred dollars ($200) in addition to such person's wearing apparel — Arkansas Constitution, Article 9, Section 1; (2) The personal property of a married person or head of a family not exceeding a value of five hundred dollars ($500) in addition to such person's wearing apparel — Arkansas Constitution, Article 9, § 2; (3) Rural homesteads not exceeding one hundred sixty (160) acres of land with improvements thereon, up to two thousand five hundred dollars ($2,500) in value but in no event less than eighty (80) acres without regard to value — Arkansas Constitution, Article 9, § 4; (4) The urban homestead not exceeding one (1) acre of land with improvements thereon, but not to exceed two thousand five hundred dollars ($2,500) in value, but in no event to be less than one-quarter (¼) of an acre of land without regard to value — Arkansas Constitution, Article 9, § 5; (5) The rural or urban homestead of a widow or surviving dependent children including the rents and profits from such homestead — Arkansas Constitution, Article 9, § 6; (6) Sixty (60) days' wages, not exceeding the limits imposed by the Arkansas Constitution, Article 9, §§ 1 and 2, but in no instance less than twenty-five dollars ($25.00) per week — § 16-66-208; (7) Proceeds of life, health, accident, and disability insurance — § 16-66-209; (8) Department of Arkansas State Police retirement benefits — §§ 24-6-202, 24-6-205, 24-6-223; (9) Stipulated premium insurance benefits — § 23-71-112; (10) Mutual assessment insurance benefits — § 23-72-114; (11) Fraternal benefit society benefits — § 23-74-119 [repealed]; (12) Assets of delinquent insurer — § 23-68-120; (13) Rights to unemployment benefits and benefits received but not mingled with other funds except for debts incurred for necessities furnished during the time of unemployment — §§ 11-10-107 — 11-10-110; (14) Workers' compensation benefits — § 11-9-110; (15) Public welfare assistance grants — § 20-76-430; (16) All contributions made by a debtor to an individual retirement account, as that term is defined for federal income tax purposes and state income tax purposes, for a period exceeding one (1) year prior to the filing of a petition of bankruptcy. However, the maximum amount of individual retirement account contributions that may be claimed under this subdivision shall not exceed twenty thousand dollars ($20,000) for an individual and twenty thousand dollars ($20,000) for a husband and wife combined; and (17) All other benefits exempt by law but not specifically enumerated herein.