Virginia State Bankruptcy Exemptions
§ 34-4. Exemption created
Every householder shall be entitled, in addition to the property or estate
exempt under §§ 23-38.81, 34-26, 34-27, 34-29, and 64.1-151.3, to hold exempt
from creditor process arising out of a debt, real and personal property, or
either, to be selected by the householder, including money and debts due the
householder not exceeding $ 5,000 in value. In addition, upon a showing that a
householder supports dependents, the householder shall be entitled to hold
exempt from creditor process real and personal property, or either, selected by
the householder, including money or monetary obligations or liabilities due the
householder, not exceeding $ 500 in value for each dependent.
For the purposes of this section, "dependent" means an individual who derives
support primarily from the householder and who does not have assets sufficient
to support himself, but in no case shall an individual be the dependent of more
than one householder.
§ 34-4.1. Additional exemption for certain veterans
Every veteran residing in this Commonwealth having a service connected
disability of forty percent or more, as rated by the Veterans Administration of
the United States, shall be entitled, in addition to the property or estate
which he is entitled to hold exempt from creditor process under §§ 34-4, 34-26,
34-27, 34-29, and 64.1-151.3, to hold exempt from creditor process his real and
personal property, or either, to be selected by him by the writings required by
§§ 34-6 and 34-14, including money and debts due him, not exceeding $ 2,000 in
value.
§ 34-18. Rents and profits exempt; increase in value of estate set apart
The rents and profits of the property set apart shall be exempt in the same
manner as the corpus of such property and if the whole real and personal estate
set apart be not of greater value than the amount the householder is entitled
to exempt at the time it is so set apart, the exemption thereof shall not be
affected by any increase in its value afterwards, unless such increase consists
of permanent improvements placed upon real estate set apart by means derived
from some source other than exempt property.
§ 34-20. Proceeds of sale of estate exempt; how evidenced
The estate or property in which proceeds of sale are invested, or which may be
acquired in exchange, under any of the preceding sections of this chapter,
shall be held exempt in like manner and to the like extent as the estate sold
or exchanged was held. But such estate or property when acquired in exchange or
otherwise than by investment under an order of court, or unless when set apart
by a court, shall be set apart, if real estate, by such a writing as is
prescribed by § 34-6; if personal estate, by such a writing as is prescribed by
§ 34-14; and such writing shall be recorded as provided by the same sections,
respectively. In addition to the requirements of such sections, the writing
shall state from what source the estate was derived and with what means
acquired. When such estate is invested or set apart under an order of court, a
copy of the order and of any report of a commissioner or other officer making
the investment thereunder, if confirmed, and a copy of the order of
confirmation, duly certified by the clerk of the court, shall be recorded in
the deed book of the county or city wherein the writing, if the estate had been
set apart by a writing, is required to be recorded.
§ 34-26. Poor debtor's exemption; exempt articles enumerated
In addition to the exemptions provided in Chapter 2 (§ 34-4 et seq.) of this
title, every householder shall be entitled to hold exempt from creditor process
the following enumerated items:
1. The family Bible.
1a. Wedding and engagement rings.
2. Family portraits and family heirlooms not to exceed $ 5,000 in value.
3. (i) A lot in a burial ground, and (ii) any preneed funeral contract not to
exceed $ 5,000.
4. All wearing apparel of the householder not to exceed $ 1,000 in value.
4a. All household furnishings including, but not limited to, beds, dressers,
floor coverings, stoves, refrigerators, washing machines, dryers, sewing
machines, pots and pans for cooking, plates, and eating utensils, not to exceed
$ 5,000 in value.
5. All animals owned as pets, such as cats, dogs, birds, squirrels, rabbits and
other pets not kept or raised for sale or profit.
6. Medically prescribed health aids.
7. Tools, books, instruments, implements, equipment, and machines, including
motor vehicles, vessels, and aircraft, which are necessary for use in the
course of the householder's occupation or trade not exceeding $ 10,000 in
value, except that a perfected security interest on such personal property
shall have priority over the claim of exemption under this section. A motor
vehicle, vessel or aircraft used to commute to and from a place of occupation
or trade and not otherwise necessary for use in the course of such occupation
or trade shall not be exempt under this subdivision. "Occupation," as used in
this subdivision, includes enrollment in any public or private elementary,
secondary, or career and technical education school or institution of higher
education.
8. A motor vehicle, not held as exempt under subdivision 7, owned by the
householder, not to exceed $ 2,000 in value, except that a perfected security
interest on the motor vehicle shall have priority over the claim of exemption
under this subdivision.
The value of an item claimed as exempt under this section shall be the fair
market value of the item less any prior security interest.
The monetary limits, where provided, are applicable to the total value of
property claimed as exempt under that subdivision.
The purchase of an item claimed as exempt under this section with nonexempt
property in contemplation of bankruptcy or creditor process shall not be deemed
to be in fraud of creditors.
No officer or other person shall levy or distrain upon, or attach, such
articles, or otherwise seek to subject such articles to any lien or process. It
shall not be required that a householder designate any property exempt under
this section in a deed in order to secure such exemption.
§ 34-27. Additional articles exempted to householder engaged in agriculture
If the householder be at the time actually engaged in the business of
agriculture, there shall also be exempt from such levy or distress, while he is
so engaged, to be selected by him or his agent, the following articles, or so
many thereof as he may have, to wit: a pair of horses or mules unless he
selects or has selected a horse or mule under § 34-26, in which case he shall
be entitled to select under this section only one, with the necessary gearing,
one wagon or cart, one tractor, not exceeding in value $ 3,000, two plows, one
drag, one harvest cradle, one pitchfork, one rake, two iron wedges and
fertilizer and fertilizer material not exceeding in value $ 1,000. It shall not
be required that a householder designate any property exempt under this section
in a deed in order to secure such exemption.
§ 34-28.1. Personal injury and wrongful death actions exempt; exceptions
Except for liens created under Article 7.1 (§ 8.01-66.2 et seq.) of Title 8.01,
Article 5 (§ 54.1-3932 et seq.) of Title 54.1, and Chapter 19 (§ 63.2-1900 et
seq.) of Title 63.2, all causes of action for personal injury or wrongful death
and the proceeds derived from court award or settlement shall be exempt from
creditor process against the injured person or statutory beneficiary as defined
in Article 5 (§ 8.01-50 et seq.) of Title 8.01. It shall not be required that a
householder designate any property exempt under this section in a deed in order
to secure such exemption. The provisions of this section shall not be construed
to affect any voluntary assignment of the proceeds or anticipated proceeds of a
personal injury or wrongful death award or settlement as permitted by §
8.01-26.
§ 34-29. Maximum portion of disposable earnings subject to garnishment
(a) Except as provided in subsections (b) and (b1), the maximum part of the
aggregate disposable earnings of an individual for any workweek which is
subjected to garnishment may not exceed the lesser of the following amounts:
(1) Twenty-five percent of his disposable earnings for that week, or
(2) The amount by which his disposable earnings for that week exceed thirty
times the federal minimum hourly wage prescribed by § 206 (a) (1) of Title 29
of the United States Code in effect at the time earnings are payable.
In the case of earnings for any pay period other than a week, the State
Commissioner of Labor and Industry shall by regulation prescribe a multiple of
the federal minimum hourly wage equivalent in effect to that set forth in this
section.
(b) The restrictions of subsection (a) do not apply in the case of
(1) Any order for the support of any person issued by a court of competent
jurisdiction or in accordance with an administrative procedure, which is
established by state law, which affords substantial due process, and which is
subject to judicial review.
(2) Any order of any court of bankruptcy under Chapter XIII of the Bankruptcy
Act.
(3) Any debt due for any state or federal tax.
(b1) The maximum part of the aggregate disposable earnings of an individual for
any workweek which is subject to garnishment to enforce any order for the
support of any person shall not exceed:
(1) Sixty percent of such individual's disposable earnings for that week; or
(2) If such individual is supporting a spouse or dependent child other than the
spouse or child with respect to whose support such order was issued, fifty
percent of such individual's disposable earnings for that week.
The fifty percent specified in subdivision (b1) (2) shall be fifty-five percent
and the sixty percent specified in subdivision (b1) (1) shall be sixty-five
percent if and to the extent that such earnings are subject to garnishment to
enforce an order for support for a period which is more than twelve weeks prior
to the beginning of such workweek.
(c) No court of the Commonwealth and no state agency or officer may make,
execute, or enforce any order or process in violation of this section.
The exemptions allowed herein shall be granted to any person so entitled without
any further proceedings.
(d) For the purposes of this section
(1) The term "earnings" means compensation paid or payable for personal
services, whether denominated as wages, salary, commission, bonus, payments to
an independent contractor, or otherwise, whether paid directly to the
individual or deposited with another entity or person on behalf of and
traceable to the individual, and includes periodic payments pursuant to a
pension or retirement program,
(2) The term "disposable earnings" means that part of the earnings of any
individual remaining after the deduction from those earnings of any amounts
required by law to be withheld, and
(3) The term "garnishment" means any legal or equitable procedure through which
the earnings of any individual are required to be withheld for payment of any
debt.
(e) Every assignment, sale, transfer, pledge or mortgage of the wages or salary
of an individual which is exempted by this section, to the extent of the
exemption provided by this section, shall be void and unenforceable by any
process of law.
(f) No employer may discharge any employee by reason of the fact that his
earnings have been subjected to garnishment for any one indebtedness.
(g) A depository wherein earnings have been deposited on behalf of and traceable
to an individual shall not be required to determine the portion of such
earnings which are subject to garnishment.
§ 34-33. Exemption of wages of minor from garnishment process
The wages of a minor shall not be liable to garnishment or otherwise liable to
the payment of the debts of parents.
§ 34-34. Certain retirement benefits exempt
A. For the purposes of this section:
"Alternate payee" shall have the same meaning as provided under § 206 of the
Employee Retirement Income Security Act of 1974 (ERISA). In the case of a
retirement plan that is not subject to ERISA, the term "alternate payee" means
an individual who has an interest in a retirement plan pursuant to a judgment,
decree, or order, including approval of a property settlement agreement, that
would be described in § 206 (d) (3) (B) of ERISA if the retirement plan were
subject to ERISA.
"Annual benefit" means an amount payable as an annuity for the lifetime of the
individual who claims the exemption provided under this section, assuming that
annuity payments will commence upon the individual's attainment of age
sixty-five or, if the individual attained age sixty-five on or before the
exemption provided under this section is claimed, the individual's age on the
date that the exemption is claimed.
"Retirement plan" means a plan, account, or arrangement that is intended to
satisfy the requirements of United States Internal Revenue Code §§ 401, 403
(a), 403 (b), 408, 408 A, 409 (as in effect prior to repeal by United States
P.L. 98-369), or § 457. Whether a plan, account, or arrangement is intended to
satisfy the requirements of one of the foregoing provisions shall be determined
based on all of the relevant facts and circumstances including, but not limited
to, the issuance of a favorable determination letter by the United States
Internal Revenue Service, reports or returns filed with United States or state
agencies, and communications from the plan sponsor to participants.
B. The interest of an individual under a retirement plan shall be exempt from
creditor process to the extent provided under this section. The exemption
provided by this section shall be available whether such individual has an
interest in the retirement plan as a participant, beneficiary, contingent
annuitant, alternate payee, or otherwise.
C. The exemption provided under subsection B shall not apply to the extent that
the interest of the individual in the retirement plan would provide an annual
benefit in excess of $ 17,500. If an individual has an interest in more than
one retirement plan, the limitation of this subsection C shall be applied as if
all such retirement plans constituted a single plan. The amount required to
provide an annual benefit of $ 17,500 shall be determined under the following
table:
Attained Age Cost of $ 1
When Exemption of Annual
Claimed Benefit
16 0.1482
17 0.1603
18 0.1734
19 0.1875
20 0.2028
21 0.2193
22 0.2371
23 0.2564
24 0.2773
25 0.2998
26 0.3241
27 0.3505
28 0.3789
29 0.4096
30 0.4429
31 0.4789
32 0.5178
33 0.5598
34 0.6054
35 0.6546
36 0.7080
37 0.7658
38 0.8284
39 0.8963
40 0.9699
41 1.0497
42 1.1363
43 1.2304
44 1.3326
45 1.4436
46 1.5645
47 1.6960
48 1.8394
49 1.9958
50 2.1665
51 2.3530
52 2.5571
53 2.7808
54 3.0260
55 3.2954
56 3.5915
57 3.9175
58 4.2771
59 4.6748
60 5.1150
61 5.6035
62 6.1472
63 6.7538
64 7.4330
65 8.1958
66 7.9989
67 7.8007
68 7.6009
69 7.3985
70 7.1924
71 6.9830
72 6.7706
73 6.5556
74 6.3393
75 6.1222
76 5.9054
77 5.6897
78 5.4763
79 5.2638
80 5.0529
81 4.8447
82 4.6403
83 4.4395
84 4.2415
85 4.0456
86 3.8522
87 3.6616
88 3.4742
89 3.2904
90 3.1106
91 2.9354
92 2.7653
93 2.6011
94 2.4415
95 2.2867
96 2.1367
97 1.9935
98 1.8558
99 1.7214
100 1.5972
101 1.4755
102 1.3478
103 1.2690
104 1.1738
105 1.0679
106 0.7517
107 0.0000
108 0.0000
109 0.0000
110 0.0000
For example, the amount required to provide an annual benefit of $ 17,500 to an
individual who attained age 60 at the time the exemption provided by this
section is claimed is $ 89,512.50 ($ 17,500 times 5.1150).
D. The exemption provided under subsection B shall not apply to amounts
contributed to a retirement plan during the fiscal year of the retirement plan
that includes the date on which the individual claims the exemption and for the
two preceding fiscal years of the retirement plan other than amounts that were
exempt from creditor process immediately prior to being contributed to the
retirement plan. The exemption provided under subsection B shall not apply to
the earnings on contributions described in this subsection.
E. The exemption provided under subsection B shall not apply to claims made
against an individual by the alternate payee of such individual or to claims
made against such individual by the Commonwealth in administrative actions
pursuant to Chapter 19 (§ 63.2-1900 et seq.) of Title 63.2 or any court process
to enforce a child or child and spousal support obligation.
F. If two individuals who are married or were married are entitled to claim the
exemption provided under subsection B of an interest under the same retirement
plan or plans and such individuals are jointly subject to creditor process as
to the same debt or obligation and the debt or obligation arose during the
marriage, then the exemption provided under subsection B as to such debts or
obligations shall not exceed, in the aggregate, the amount that would provide
an annual benefit of $ 17,500. The maximum amount that may be exempted shall be
allocated among such persons in the same proportion as their respective
interests in the retirement plan or plans.
G. The exemption provided under this section must be claimed within the time
limits prescribed by § 34-17.
H. A retirement plan established pursuant to §§ 408 and 408 A of the Internal
Revenue Code is exempt to the same extent as that permitted under federal law
for a qualified plan established pursuant to § 401 of the Internal Revenue
Code.
However, an individual who claims an exemption under federal law for any
retirement plan established pursuant to §§ 401, 403 (a), 403 (b), 409 or § 457
of the Internal Revenue Code shall not be entitled to claim the exemption under
this subsection for a retirement plan established pursuant to § 408 or § 408 A
of the Internal Revenue Code.
§ 23-38.81. Prepaid tuition contracts and savings trust agreements; terms;
termination; etc
A. Each prepaid tuition contract made pursuant to this chapter shall include
the following terms and provisions:
1. The amount of payment or payments and the number of payments required from a
purchaser on behalf of a qualified beneficiary;
2. The terms and conditions under which purchasers shall remit payments,
including the dates of such payments;
3. Provisions for late payment charges, defaults, withdrawals, refunds, and any
penalties;
4. The name and date of birth of the qualified beneficiary on whose behalf the
contract is made;
5. Terms and conditions for a substitution for the qualified beneficiary
originally named;
6. Terms and conditions for termination of the contract, including any refunds,
withdrawals, or transfers of tuition prepayments, and the name of the person or
persons entitled to terminate the contract;
7. The time period during which the qualified beneficiary must claim benefits
from the Plan;
8. The number of credit hours or quarters, semesters, or terms contracted for
by the purchaser;
9. All other rights and obligations of the purchaser and the trust; and
10. Any other terms and conditions which the Board deems necessary or
appropriate, including those necessary to conform the contract with the
requirements of Internal Revenue Code § 529, as amended, which specifies the
requirements for qualified state tuition programs.
B. Each savings trust agreement made pursuant to this chapter shall include the
following terms and provisions:
1. The maximum and minimum contribution allowed on behalf of each qualified
beneficiary for the payment of qualified higher education expenses at eligible
institutions, both as defined in § 529 of the Internal Revenue Code of 1986, as
amended, or other applicable federal law;
2. Provisions for withdrawals, refunds, transfers, and any penalties;
3. The name, address, and date of birth of the qualified beneficiary on whose
behalf the savings trust account is opened;
4. Terms and conditions for a substitution for the qualified beneficiary
originally named;
5. Terms and conditions for termination of the account, including any refunds,
withdrawals, or transfers, and applicable penalties, and the name of the person
or persons entitled to terminate the account;
6. The time period during which the qualified beneficiary must use benefits
from the savings trust account;
7. All other rights and obligations of the contributor and the Plan; and
8. Any other terms and conditions which the Board deems necessary or
appropriate, including those necessary to conform the savings trust account
with the requirements of § 529 of the Internal Revenue Code of 1986, as
amended, or other applicable federal law.
C. In addition to the provisions required by subsection A of this section, each
prepaid tuition contract shall include provisions for the application of
tuition prepayments (i) at accredited, nonprofit, independent institutions of
higher education located in Virginia, including actual interest and income
earned on such prepayments and (ii) at public and at accredited, nonprofit,
independent institutions of higher education located in other states, including
principal and reasonable return on such principal as determined by the Board.
Payments authorized for accredited, nonprofit, independent institutions located
in Virginia may not exceed the projected highest payment made for tuition at a
public institution of higher education in Virginia in the same academic year,
less a fee to be determined by the Board. Payments authorized for public and
for accredited, nonprofit, independent institutions of higher education located
in other states may not exceed the projected average payment made for tuition
at a public institution of higher education in Virginia in the same academic
year, less a fee to be determined by the Board.
D. All prepaid tuition contracts and savings trust agreements shall specifically
provide that, if after a specified period of time the contract or savings trust
agreement has not been terminated nor the qualified beneficiary's rights
exercised, the Board, after making reasonable effort to contact the purchaser
or contributor and the qualified beneficiary or their agents, shall report such
unclaimed moneys to the State Treasurer pursuant to § 55-210.12.
E. Notwithstanding any provision of law to the contrary, money in the Plan shall
be exempt from creditor process and shall not be liable to attachment,
garnishment, or other process, nor shall it be seized, taken, appropriated, or
applied by any legal or equitable process or operation of law to pay any debt
or liability of any purchaser, contributor or beneficiary.
F. No contract or savings trust account shall be assigned for the benefit of
creditors, used as security or collateral for any loan, or otherwise subject to
alienation, sale, transfer, assignment, pledge, encumbrance or charge.
G. The Board's decision on any dispute, claim, or action arising out of or
related to a prepaid tuition contract or savings trust agreement made or
entered into pursuant to this chapter or benefits thereunder shall be
considered a case decision as defined in § 2.2-4001 and all proceedings related
thereto shall be conducted pursuant to Article 3 (§ 2.2-4018 et seq.) of the
Administrative Process Act. Judicial review shall be exclusively provided
pursuant to Article 5 (§ 2.2-4025 et seq.) of the Administrative Process Act.
§ 8.01-489. Growing crops, not severed, not liable to distress or levy
No growing crop of any kind, not severed, shall be liable to distress or levy.
§ 19.2-368.12. Awards not subject to execution or attachment; apportionment;
reductions
A. No award made pursuant to this chapter shall be subject to execution or
attachment other than for expenses resulting from the injury which is the basis
for the claim.
B. If there are two or more persons entitled to an award as a result of the
death of a person which is the direct result of a crime, the award shall be
apportioned among the claimants.
C. In determining the amount of an award, the Commission shall determine
whether, because of his conduct, the victim of such crime contributed to the
infliction of his injury, and the Commission shall reduce the amount of the
award or reject the claim altogether, in accordance with such determination;
provided, however, that the Commission may disregard for this purpose the
responsibility of the victim for his own injury where the record shows that
such responsibility was attributable to efforts by the victim to prevent a
crime or an attempted crime from occurring in his presence, or to apprehend a
person who had committed a crime in his presence or had, in fact, committed a
felony.
§ 38.2-3122. Proceeds of policies payable to others free of claims against
insured
The assignee or lawful beneficiary of an insurance policy shall be entitled to
its proceeds against any claims of the creditors or representatives of the
insured or the person effecting the policy, except in cases of transfer with
intent to defraud creditors, subject to the following conditions:
1. The policy shall have been effected by a person on his own life or on
another life, in favor of a person other than himself;
2. The assignee of the policy, or the payee, if the policy is otherwise made
payable to another, shall not be the insured, nor the person effecting the
policy, nor the executors or administrators;
3. The right to change the beneficiary may or may not have been reserved or
permitted;
4. The policy may be payable to the person whose life is insured if the
beneficiary or assignee predeceases the insured; and
5. Subject to the statute of limitations, the amount of any premiums for such
policy paid with the intent to defraud creditors, or paid under such
circumstances as to be void under § 55-81, with the interest thereon, shall be
to the benefit of the creditors from the proceeds of the policy.
§ 38.2-3339. Exemption of group life insurance policies from legal process
No group life insurance policy, nor its proceeds, shall be liable to
attachment, garnishment, or other process, or to be seized, taken,
appropriated, or applied by any legal or equitable process or operation of law,
to pay any debt or liability of any person insured under the policy, or his
beneficiary, or any other person who has a right under the policy, either
before or after payment. If the proceeds of a group life insurance policy are
not made payable to a named beneficiary, the proceeds shall not constitute a
part of the insured person's estate for the payment of his debts.
§ 51.1-510. Insurance exempt from process
A. Except as provided in subsection B, the insurance provided for in this
chapter, including any optional insurance, and all proceeds therefrom shall be
exempt from levy, garnishment, and other legal process. However, the insured
may make a voluntary, irrevocable assignment of his group life insurance and
any individual conversion policy that may be issued upon termination of his
group life insurance by executing an assignment on a form prepared by the Board
of Trustees of the Virginia Retirement System.
B. From any insurance proceeds payable pursuant to this chapter to a retiree's
beneficiaries, the Board may deduct any overpayment of retirement allowance
paid to such retiree.
§ 38.2-3811. Benefits not subject to process
Any money, other benefit, charity, relief or aid to be paid, provided or
rendered by any company shall not be liable to attachment, garnishment or other
process, or be seized, taken, appropriated or applied by any legal or equitable
process or operation of law to pay any debt or liability of a member, his
beneficiary, or any other person who may have a right thereunder, either before
or after payment.
§ 38.2-4118. Benefits not attachable
No money or other benefit, charity, relief or aid to be paid, provided or
rendered by any society, shall be liable to attachment, garnishment or other
process, or to be seized, taken, appropriated or applied by any legal or
equitable process or operation of law to pay any debt or liability of a member
or beneficiary, or any other person who may have a right thereunder, either
before or after payment by the society.
§ 38.2-4021. Interest in benefits; assignability; liability to attachment, etc
No beneficiary shall have or obtain any vested interest in a benefit until the
benefit has become due and payable upon the death of the member. No certificate
of membership in any burial society, nor any interest or rights in the
certificate shall be assigned unless the assignment is to a person authorized
by § 38.2-4019 to be named as a beneficiary except for the purpose of funding
or paying for a preneed funeral contract as defined in § 54.1-2800,
notwithstanding the provisions of § 38.2-4022, and so long as such assignment
is revocable by the assignor. No money or other benefit provided by any burial
society shall be liable to attachment, garnishment or other process, or be
seized, taken, appropriated or applied by any legal or equitable process or
operation of law to pay any debt or liability of a member or beneficiary, or
any other person who may have a right to the benefit, either before or after
payment.
§ 38.2-3549. Benefits not subject to legal process
The payments in weekly or monthly installments to the holder of any policy of
industrial sick benefit insurance shall not be subject to the lien of any
attachment, garnishment proceeding, writ of fieri facias, or to levy or
distress in any manner, for any debt due by the holder of the policy.
§ 44-96. Military property exempt from levy and sale
The uniforms, arms and equipment required by law or regulations, of every
commissioned and warrant officer and every enlisted person of the Virginia
National Guard, Virginia State Defense Force and naval militia shall be exempt
from sale under any execution, distress or other process for debt and taxes.
§ 65.2-531. Assignments of compensation; exemption from creditors' claims
A. No claim for compensation under this title shall be assignable. All
compensation and claims therefor shall be exempt from all claims of creditors,
even if the compensation is used for purchase of shares in a credit union, or
deposited into an account with a financial institution or other organization
accepting deposits and is thereby commingled with other funds. However,
benefits paid in compensation or in compromise of a claim for compensation
under this title shall be subject to claims for spousal and child support
subject to the same exemptions allowed for earnings in § 34-29.
B. Upon an order of garnishment, attachment or other levy addressed to a
financial institution in which the principal defendant claims to have exempt
funds hereunder, the principal defendant may file an answer asserting the
exemption hereunder. From the time of service of such garnishment, attachment
or levy, the financial institution, until further order of the court, shall
hold the amount subject to such garnishment, attachment or levy, or such lesser
amount or sum as it may have, which amount shall be set forth in its answer. It
shall hold such amount free of any person drawing against such funds whether by
check against such account or otherwise. The financial institution shall be
subject to such further order or subpoena for discovery of its records, for
which it shall be entitled an order or agreement for compensation for the
expense of such service, and in a case deemed appropriate to the court by such
an order directing deposit of funds or further security prior to such records
being ordered produced.
§ 60.2-600. No assignment of benefits; exemptions
Any assignment, pledge or encumbrance of any right to benefits which are or may
become due or payable under this title shall be void except as provided in this
section and in §§ 60.2-608, 60.2-608.1, 60.2-608.2, and 60.2-633. Such rights
to benefits shall be exempt from levy, execution, attachment, garnishment or
any other legal process provided for the collection of debt, even if the
compensation is used for purchase of shares in a credit union, or deposited
into an account with a financial institution or other organization accepting
deposits and is thereby commingled with other funds, except debts incurred for
necessaries furnished to such individual, his spouse or dependents during the
time when such individual was unemployed. Any waiver of any exemption provided
for in this section shall be void.
Upon an order of garnishment, attachment or other levy addressed to a financial
institution in which the principal defendant claims to have exempt funds
hereunder, the principal defendant may file an answer asserting the exemption
hereunder. From the time of service of such garnishment, attachment or levy,
the financial institution, until further order of the court, shall hold the
amount subject to such garnishment, attachment or levy, or such lesser amount
or sum as it may have, which amount shall be set forth in its answer. It shall
hold such amount free of any person drawing against such funds whether by check
against such account or otherwise. The financial institution shall be subject
to such further order or subpoena for discovery of its records, for which it
shall be entitled an order or agreement for compensation for the expense of
such service, and in a case deemed appropriate to the court by such an order
directing deposit of funds or further security prior to such records being
ordered produced.
§ 55-165. Exemption from garnishment, levy or distress
When the assignment is executed and approved by the court and the trustee has
been appointed and notice given to the creditors mentioned in the assignment,
such assignment shall be deemed legal and binding upon all creditors and such
salary, wages or income shall be exempt from garnishment, levy or distress
during such time as the assignment is in existence; and such assignment shall
have priority over all liens subsequently obtained.
§ 51.1-124.4. Exemption of assets from taxation; exemption of benefits and assets
from execution and assignment; trust funds; unclaimed property; eligible
rollover distribution
A. The assets of the retirement systems created under this title are hereby
exempted from any state, county, or municipal tax. Retirement allowances and
other benefits accrued or accruing to any person under this title and the
assets of the retirement systems created under this title shall not be subject
to execution, attachment, garnishment, or any other process whatsoever, except
any process for a debt to any employer who has employed such person, and except
for administrative actions pursuant to Chapter 19 (§ 63.2-1900 et seq.) of
Title 63.2 or any court process to enforce a child or child and spousal support
obligation, nor shall any assignment thereof, other than a voluntary,
irrevocable assignment of group life insurance pursuant to § 51.1-510, be
enforceable in any court. However, retirement benefits and assets created under
this title which are deemed to be marital property pursuant to Chapter 6 (§
20-89.1 et seq.) of Title 20 may be divided or transferred by the court by
direct assignment to a spouse or former spouse pursuant to § 20-107.3. The
assets of the retirement systems administered by the Board are trust funds and
shall be used solely for the benefit of members and beneficiaries and to
administer the retirement systems. The Board shall establish procedures whereby
persons entitled to property held by the Board, which would be presumed
abandoned under the Uniform Disposition of Unclaimed Property Act (§ 55-210.1
et seq.), may recover it.
B. Notwithstanding any provision of this chapter to the contrary that would
otherwise limit a distributee's election, a distributee may elect, at the time
and in the manner prescribed by the Board, to have any portion of an eligible
rollover distribution paid directly to an eligible retirement plan specified by
the distributee in a direct rollover. The terms "eligible rollover
distribution," "eligible retirement plan" and "distributee" have the meanings
prescribed by § 401(a)(31) of the Internal Revenue Code and the regulations
thereunder, as may be amended.
§ 63.2-506. Public assistance not transferable or subject to execution
Except as provided in § 63.2-512, no public assistance given under this
subtitle shall be transferable or assignable, at law or in equity, and none of
the money paid or payable as public assistance under this subtitle shall be
subject to execution, levy, attachment, garnishment or other legal process, or
to the operation of any bankruptcy or insolvency laws.
Note: Exemptions may have changed since our last update. For the latest updates on these property exemptions, speak to a local bankruptcy lawyer.
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