S.B. 50 Enrolled

PROPERTY EXEMPT FROM EXECUTION
2001 GENERAL SESSION
STATE OF UTAH
Sponsor: Carlene M. Walker
This act modifies the Judicial Code to change how life insurance benefits are exempted from
judicial process.
This act affects sections of Utah Code Annotated 1953 as follows:
AMENDS:
78-23-7, as enacted by Chapter 111, Laws of Utah 1981
Be it enacted by the Legislature of the state of Utah:
Section 1. Section 78-23-7 is amended to read:
78-23-7. Exemption of unmatured life insurance contracts.
Except as provided in this section, an individual is entitled to an exemption of unmatured life
insurance contracts owned by him. If the contracts have accrued dividends and loan values totaling more
than [$1,500] $5,000 available to the individual, a judgment creditor may obtain a court order directing
the individual debtor to pay the creditor, and authorizing the creditor on the debtor's behalf to obtain
payment of, the amount of the accrued dividends and loan values exceeding [$1,500] $5,000 or the
amount of the creditor's claim, whichever is less.