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SB 202 increase the exemption from process of certain...
State of South Dakota  
EIGHTY-SECOND SESSION
LEGISLATIVE ASSEMBLY,  2007
 

418N0639  
SENATE JUDICIARY COMMITTEE ENGROSSED   NO. SB 202   -   02/05/2007  

Introduced by:     Senator Gray and Representative Lust  


         FOR AN ACT ENTITLED, An Act to  increase the exemption from process of certain retirement benefits.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
     Section  1.  That § 43-45-16 be amended to read as follows:
     43-45-16.   Any person shall have has the right to select and designate a total of two hundred fifty thousand one million dollars and the income and distributions therefrom from the employee's benefit plans as exempt from execution, attachment, garnishment, seizure, or taking by any legal process. This exemption is subject to the right of the State of South Dakota and its political subdivisions to collect any amounts owed to them. This section permits benefits under such plan or arrangement to be payable to a spouse, former spouse, child, or other dependent of a participant in such plan to the extent expressly provided for in a qualified domestic relations order as defined in 29 U.S.C. § 1056(d) or in § 401(a)(13) of the Internal Revenue Code.