H.B. 135

1

PROTECTION OF PENSION, PROFIT SHARING,
2 AND SIMILAR PLANS IN BANKRUPTCY
3 1997 GENERAL SESSION
4 STATE OF UTAH
5 Sponsor: David Ure
6 AN ACT RELATING TO JUDICIAL CODE; PROVIDING PROTECTION OF PENSION,
7 PROFIT SHARING, AND SIMILAR PLANS OR CONTRACTS IN BANKRUPTCY.
8 This act affects sections of Utah Code Annotated 1953 as follows:
9 ENACTS:
10 78-23-16, Utah Code Annotated 1953
11 Be it enacted by the Legislature of the state of Utah:
12 Section 1. Section 78-23-16 is enacted to read:
13 78-23-16. Exemption from bankruptcy proceeding -- Pension, profit sharing, and
14 similar plans.
15 A person may exempt from any bankruptcy proceeding that person's right to receive a
16 payment under a stock bonus, pension, profit sharing, annuity, individual retirement arrangement
17 or similar plan or contract on account of illness, disability, death, age, or length of service pension.




Legislative Review Note
as of 1-30-97 10:54 AM

A limited legal review of this bill raises no obvious constitutional or statutory concerns.

Office of Legislative Research and General Counsel

*HB0135*