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MO HB1188
Bill
Status
3/10/2015
Primary Sponsor
Rochelle Walton Gray
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AI Summary
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Amends Section 513.427, RSMo to clarify that property exempt from attachment and execution under both common and statutory law of Missouri may be claimed as exempt in bankruptcy proceedings
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Continues Missouri's "opt-out" of federal bankruptcy exemptions under 11 U.S.C. Section 522(d), requiring debtors to use state exemptions instead
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Adds "common" law to the existing "statutory" law language, expanding the legal basis for property exemptions available to bankruptcy filers in Missouri
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Applies to any person filing for or defending against bankruptcy relief under Title 11 of the United States Code
Legislative Description
Exempts property in bankruptcy which is exempt from attachment or execution under common and statutory law of Missouri or under federal law
Last Action
Referred: Civil and Criminal Proceedings(H)
5/15/2015