South Carolina General Assembly
108th Session, 1989-1990

Bill 4199

                    Current Status

Bill Number:               4199
Ratification Number:       643
Act Number                 526
Introducing Body:          House
Subject:                   Property may not be exempted
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A526, R643, H4199)

AN ACT TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 15-41-35 SO AS TO PROVIDE THAT NO INDIVIDUAL MAY EXEMPT FROM THE PROPERTY OF THE ESTATE IN ANY BANKRUPTCY PROCEEDING THE PROPERTY SPECIFIED IN SECTION 522(d) OF THE BANKRUPTCY REFORM ACT (PUBLIC LAW 95-598) EXCEPT AS MAY BE EXPRESSLY PERMITTED BY THE LAWS OF THIS STATE.

Be it enacted by the General Assembly of the State of South Carolina:

Property may not be exempted

SECTION 1. Article 1, Chapter 41, Title 15 of the 1976 Code, as last amended by Act 415 of 1988, is further amended by adding:

"Section 15-41-35. No individual may exempt from the property of the estate in any bankruptcy proceeding the property specified in Section 522(d) of the Bankruptcy Reform Act (Public Law 95-598) except as may be expressly permitted by this chapter or by other provisions of law of this State."

Time effective

SECTION 2. This act takes effect upon approval by the Governor.

Approved the 4th day of June, 1990.