2004 House Bill 5765

Bankruptcy property seizure exemption

Introduced in the House

April 1, 2004

Introduced by Rep. Alexander Lipsey (D-60)

To update the law that exempts the proceeds of “structured settlements” from seizure and sale because of bankruptcy or unpaid debts. A “structured settlement” is an arrangement for periodic payment of damages for personal injuries in resolution of a tort claim.

Referred to the Committee on Judiciary