Bankruptcy Exemption Citations
A Research Database... updated as time allows... Not guaranteed to be complete or up to date ... you can find pay services for that... Not a subsitute for legal advice

← Arkansas Personal Property Exemptions

Exemption: Statute allows exemption of Motor vehicle to $1,200. However, Ark. Constitution limits exemption to $200.

Citation: Stat. - Ark. Code Ann. § 16-66-218 (a)(2)

Ark. Code Ann. § 16-66-218 (a)(2):
� 16-66-218. State bankruptcy proceedings

(a) The following property shall be exempt from execution under bankruptcy proceedings pursuant to Public Law 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 ( 1/2 ) 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 ( 1/4 ) 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) 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;

(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;

(17) All other benefits exempt by law but not specifically enumerated herein.
Last Amended: 1989
1989
Acts 1981, No. 419, § 2; A.S.A. 1947, § 36-211; Acts 1987, No. 932, § 1; 1989, No. 821, § 5.
ADVERTISEMENT -
  • Other State Citations
  • Other States on this topic

Other Arkansas Exemption Citations

50 State Personal Property Exemptions