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2509
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HARRY HUGHES, Governor
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(5) [Property of any kind equivalent in value to
$3,000 is automatically exempt, unless within 30 days from the
date of the levy by the sheriff, the debtor elects, in lieu of
property, to exempt cash in an amount not to exceed a value of
$3,000.] IF A DEBTOR FILES A WRITTEN ELECTION WITH THE CLERK OF
COURT WHERE THE JUDGMENT IS DOCKETED WITHIN 30 DAYS OF THE DATE
OF LEVY OR ATTACHMENT, $3,000 IN CASH OR PROPERTY OF ANY KIND
EQUIVALENT IN VALUE TO $3,000. ONCE THE DEBTOR MAKES THIS
ELECTION, ANY PROPERTY THAT IS NOT INCLUDED IN THE ELECTION IS
SUBJECT TO EXECUTION. FOR PURPOSES OF THIS PARAGRAPH, "CASH"
INCLUDES MONEY IN A BANK ACCOUNT.
(5) CASH OR PROPERTY [Property] of any kind
equivalent in value to $3,000 is [automatically] exempt, [unless]
IF within 30 days from the date of the ATTACHMENT OR THE levy by
the sheriff, the debtor elects[, in lieu of property,] to exempt
cash OR SELECTED ITEMS OF PROPERTY in an amount not to exceed a
CUMULATIVE value of $3,000.
(c) [If the debtor elects to exempt property in accordance
with subsections (b)(4) and (b)(5) of this section, the sheriff
shall obtain a signed appraisal by a disinterested appraiser of
the property selected by the debtor. The appraisal shall be
returned with the writ.]
(1) IN ORDER TO DETERMINE WHETHER THE PROPERTY LISTED
IN SUBSECTION (B)(4) AND (5) OF THIS SECTION IS SUBJECT TO
EXECUTION, THE SHERIFF SHALL APPRAISE THE PROPERTY AT THE TIME OF
LEVY. THE SHERIFF SHALL RETURN THE APPRAISAL WITH THE WRIT.
(2) AN APPRAISAL MADE BY THE SHERIFF UNDER THIS
SUBSECTION IS SUBJECT TO REVIEW BY THE COURT ON MOTION OF THE
DEBTOR.
(3) PROCEDURES TO IMPLEMENT THE PROVISIONS OF THIS
SUBSECTION SHALL BE AS PRESCRIBED BY RULES ISSUED BY THE COURT OF
APPEALS.
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SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1983.
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