HB 101 Summary

• Amends AS 09.38.025(a) to increase the exemption threshold for life insurance and annuity contract dividends and loan values from $10,000 to $500,000

• Creditors may obtain a court order to recover accrued dividends and loan values that exceed $500,000, or the amount of the creditor's claim, whichever is less

• Applies prospectively to any exemption sought on or after the effective date of the Act