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SECOND REGULAR SESSION
HOUSE BILL NO. 2864
103RD GENERAL ASSEMBL Y
INTRODUCED BY REPRESENT A TIVE P ARKER.
6517H.01I JOSEPH ENGLER, Chief Clerk
AN ACT
T o repeal section 513.430, RSMo, and to enact in lieu thereof one new section relating to
property exempt from attachment and execution.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Section 513.430, RSMo, is repealed and one new section enacted in lieu
2 thereof, to be known as section 513.430, to read as follows:
513.430. 1. The following property shall be exempt from attachment and execution
2 to the extent of any person's interest therein:
3 (1) Household furnishings, household goods, wearing apparel, appliances, books,
4 animals, crops or musical instruments that are held primarily for personal, family or
5 household use of such person or a dependent of such person, not to exceed three thousand
6 dollars in value in the aggregate;
7 (2) A wedding ring not to exceed one thousand five hundred dollars in value and other
8 jewelry held primarily for the personal, family or household use of such person or a
9 dependent of such person, not to exceed five hundred dollars in value in the aggregate;
10 (3) Any other property of any kind, not to exceed in value six hundred dollars in the
11 aggregate;
12 (4) Any implements or professional books or tools of the trade of such person or the
13 trade of a dependent of such person not to exceed three thousand dollars in value in the
14 aggregate;
15 (5) Any motor vehicles, not to exceed three thousand dollars in value in the
16 aggregate;
EXPLANA TION — Matter enclosed in bold-faced brackets [thus] in the above bill is not enacted and is
intended to be omitted from the law . Matter in bold-face type in the above bill is proposed language.
17 (6) Any mobile home used as the principal residence but not attached to real property
18 in which the debtor has a fee interest, not to exceed five thousand dollars in value;
19 (7) Any one or more unmatured life insurance contracts owned by such person, other
20 than a credit life insurance contract, and up to fifteen thousand dollars of any matured life
21 insurance proceeds for actual funeral, cremation, or burial expenses where the deceased is the
22 spouse, child, or parent of the beneficiary;
23 (8) The amount of any accrued dividend or interest under , or loan value of, any one or
24 more unmatured life insurance contracts owned by such person under which the insured is
25 such person or an individual of whom such person is a dependent; provided, however , that if
26 proceedings under T itle 1 1 of the United States Code are commenced by or against such
27 person, the amount exempt in such proceedings shall not exceed in value one hundred fifty
28 thousand dollars in the aggregate less any amount of property of such person transferred by
29 the life insurance company or fraternal benefit society to itself in good faith if such transfer is
30 to pay a premium or to carry out a nonforfeiture insurance option and is required to be so
31 transferred automatically under a life insurance contract with such company or society that
32 was entered into before commencement of such proceedings. No amount of any accrued
33 dividend or interest under , or loan value of, any such life insurance contracts shall be exempt
34 from any claim for child support. Notwithstanding anything to the contrary , no such amount
35 shall be exempt in such proceedings under any such insurance contract which was purchased
36 by such person within one year prior to the commencement of such proceedings;
37 (9) Professionally prescribed health aids for such person or a dependent of such
38 person;
39 (10) Such person's right to receive:
40 (a) A Social Security benefit, unemployment compensation or a public assistance
41 benefit;
42 (b) A veteran's benefit;
43 (c) A disability , illness or unemployment benefit;
44 (d) Alimony , support or separate maintenance, not to exceed seven hundred fifty
45 dollars a month;
46 (e) a. Any payment under a stock bonus plan, pension plan, disability or death benefit
47 plan, profit-sharing plan, nonpublic retirement plan or any plan described, defined, or
48 established pursuant to section 456.014, the person's right to a participant account in any
49 deferred compensation program offer ed by the state of Missouri or any of its political
50 subdivisions, or annuity or similar plan or contract on account of illness, disability , death, age
51 or length of service, to the extent reasonably necessary for the support of such person and any
52 dependent of such person unless:
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53 (i) Such plan or contract was established by or under the auspices of an insider that
54 employed such person at the time such person's rights under such plan or contract arose;
55 (ii) Such payment is on account of age or length of service; and
56 (iii) Such plan or contract does not qualify under Section 401(a), 403(a), 403(b), 408,
57 408A or 409 of the Internal Revenue Code of 1986, as amended, (26 U.S.C. Section 401(a),
58 403(a), 403(b), 408, 408A or 409).
59 b. Notwithstanding the exemption provided in subparagraph a. of this paragraph, any
60 such payment to any person shall be subject to attachment or execution pursuant to a qualified
61 domestic relations order , as defined by Section 414(p) of the Internal Revenue Code of 1986
62 (26 U.S.C. Section 414(p)), as amended, issued by a court in any proceeding for dissolution
63 of marriage or legal separation or a proceeding for disposition of property following
64 dissolution of marriage by a court which lacked personal jurisdiction over the absent spouse
65 or lacked jurisdiction to dispose of marital property at the time of the original judgment of
66 dissolution;
67 (f) Any money or assets, payable to a participant or beneficiary from, or any interest
68 of any participant or beneficiary in, a retirement plan, profit-sharing plan, health savings plan,
69 or similar plan, including an inherited account or plan, that is qualified under Section 401(a),
70 403(a), 403(b), 408, 408A or 409 of the Internal Revenue Code of 1986 (26 U.S.C. Section
71 401(a), 403(a), 403(b), 408, 408A, or 409), as amended, whether such participant's or
72 beneficiary's interest arises by inheritance, designation, appointment, or otherwise, except as
73 provided in this paragraph. Any plan or arrangement described in this paragraph shall not be
74 exempt from the claim of an alternate payee under a qualified domestic relations order or an
75 assignee under a final judgment of dissolution of marriage or legal separation ; however ,
76 the interest of any and all alternate payees under a qualified domestic relations order , or an
77 assignee under a final judgment of dissolution of marriage or legal separation, shall be
78 exempt from any and all claims of any creditor , other than the state of Missouri through its
79 department of social services , as of the time the interes t is awarded or recei ved, and
80 continues to be exempt ther eafter . As used in this paragraph, the terms "alternate payee"
81 and "qualified domestic relations order" have the meaning given to them in Section 414(p) of
82 the Internal Revenue Code of 1986 (26 U.S.C. Section 414(p)), as amended. If proceedings
83 under T itle 1 1 of the United States Code are commenced by or against such person, no
84 amount of funds shall be exempt in such proceedings under any such plan, contract, or trust
85 which is fraudulent as defined in subsection 2 of section 428.024 and for the period such
86 person participated within three years prior to the commencement of such proceedings. For
87 the purposes of this section, when the fraudulently conveyed funds are recovered and after ,
88 such funds shall be deducted and then treated as though the funds had never been contributed
89 to the plan, contract, or trust;
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90 (1 1) The debtor's right to receive, or property that is traceable to, a payment on
91 account of the wrongful death of an individual of whom the debtor was a dependent, to the
92 extent reasonably necessary for the support of the debtor and any dependent of the debtor;
93 (12) Firearms, firearm accessories, and ammunition, not to exceed one thousand five
94 hundred dollars in value in the aggregate;
95 (13) Any moneys accruing to and deposited in individual savings accounts or
96 individual deposit accounts under sections 166.400 to 166.456 or sections 166.500 to
97 166.529, subject to the following provisions:
98 (a) This subdivision shall apply to any proceeding that:
99 a. Is filed on or after January 1, 2022; or
100 b. W as filed before January 1, 2022, and is pending or on appeal after January 1,
101 2022;
102 (b) Except as provided by paragraph (c) of this subdivision, if the designated
103 beneficiary of an individual savings account or individual deposit account established under
104 sections 166.400 to 166.456 or sections 166.500 to 166.529 is a lineal descendant of the
105 account owner , all moneys in the account shall be exempt from any claims of creditors of the
106 account owner or designated beneficiary;
107 (c) The provisions of paragraph (b) of this subdivision shall not apply to:
108 a. Claims of any creditor of an account owner as to amounts contributed within a two-
109 year period preceding the date of the filing of a bankruptcy petition under 1 1 U.S.C. Section
110 101 et seq., as amended; or
111 b. Claims of any creditor of an account owner as to amounts contributed within a one-
112 year period preceding an execution on judgment for such claims against the account owner .
113 2. Nothing in this section shall be interpreted to exempt from attachment or execution
114 for a valid judicial or administrative order for the payment of child support or maintenance
115 any money or assets, payable to a participant or beneficiary from, or any interest of any
116 participant or beneficiary in, a retirement plan which is qualified pursuant to Sections 408 and
117 408A of the Internal Revenue Code of 1986 (26 U.S.C. Sections 408 and 408A), as amended.
✔
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