Section 28-22-03.1 - Additional exemptions for residentsIn addition to the exemptions from all attachment or process, levy and sale upon execution, and any other final process issued from any court, otherwise provided by law, a resident of the state may select:
1. In lieu of the homestead exemption, up to twenty-five thousand dollars. This exemption is not available if the resident exemption claimant, the spouse of the resident exemption claimant, or other head of the family of the resident exemption claimant has chosen the homestead exemption provided for under subsection 7 of section 28-22-02.2. A motor vehicle exemption in one vehicle not to exceed ten thousand dollars in value over security interests and liens upon that vehicle, or a motor vehicle exemption in one vehicle not to exceed fifty thousand dollars for a motor vehicle that has been modified at a cost of not less than one thousand five hundred dollars to accommodate an individual with a permanent physical disability who is the owner of that motor vehicle.3. The debtor's aggregate interest, not to exceed ten thousand dollars in value, in any tools, implements, or professional books of the trade of the debtor or the trade of a dependent of the debtor.4. Any unmatured life insurance contract owned by the debtor, other than a credit life insurance contract.5. The debtor's aggregate interest, not to exceed in value one hundred thousand dollars less any amount of property transferred in the manner specified in 11 U.S.C. 542 (d), in any accrued dividend or interest under, or loan value of, any unmatured life insurance contract owned by the debtor under which the insured is the debtor or an individual of whom the debtor is a dependent. Any cash deposit not previously scheduled to be made into a life insurance policy or nonqualified annuity over the previous twelve months is not exempt. Benefits are not exempt from enforcement of any order to pay spousal support, child support, or a qualified domestic order under sections 15-39.1-12.2, 39-03-14.2, and 54-52-17.6.6. Professionally prescribed health aids for the debtor or a dependent of the debtor.7. Retirement funds that have been in effect for at least one year, to the extent those funds are in a fund or account that is exempt from taxation under section 401, 403, 408, 408A, 414, 457, or 501(a) of the Internal Revenue Code of 1986. The value of those assets exempted may not exceed two hundred thousand dollars for any one account or four hundred thousand dollars in aggregate for all accounts. The dollar limit does not apply to the extent this property is reasonably necessary for the support of the resident and that resident's dependents. Retirement funds are not exempt from enforcement of any order to pay spousal support or child support, or a qualified domestic relations order under sections 15-39.1-12.2, 39-03.1-14.2, and 54-52-17.6. As used in this subsection, "reasonably necessary for the support" means required to meet present and future needs, as determined by the court after consideration of the resident's responsibilities and all the present and anticipated property and income of the resident, including that which is exempt.8. The debtor's right to receive: a. A social security benefit, except that the benefit is not exempt for enforcement of any order for the support of a dependent child.b. Veteran's disability pension benefits, not including military retirement pay, except that the benefits are not exempt from process levy or sale for enforcement of any order for the support of a dependent child.c. A disability, illness, or unemployment benefit.d. Alimony, support, or separate maintenance, but not property settlements, to the extent reasonably necessary for the support of the debtor and any dependent of the debtor.e. A payment under a stock bonus, pension, profit-sharing, annuity, or similar plan or contract on account of illness, disability, death, age, or length of service, to the extent reasonably necessary for the support of the debtor and any dependent of the debtor, unless: (1) That plan or contract was established by or under the auspices of an insider that employed the debtor at the time the debtor's rights under that plan or contract arose;(2) That payment is on account of age or length of service; and(3) That plan or contract does not qualify under section 401(a), 403(a), 403(b), or 408 of the Internal Revenue Code of 1986.9. The debtor's right to receive, or property that is traceable to: a. An award under a crime victim's reparation law.b. A payment on account of the wrongful death of an individual of whom the debtor was a dependent, to the extent reasonably necessary for the support of the debtor and any dependent of the debtor.c. A payment under a life insurance contract that insured the life of an individual of whom the debtor was a dependent on the date of that individual's death, to the extent reasonably necessary for the support of the debtor and any dependent of the debtor.d. A payment, not to exceed eighteen thousand four hundred fifty dollars, on account of personal bodily injury, not including pain and suffering or compensation for actual pecuniary loss, of the debtor or an individual of whom the debtor is a dependent.e. A payment in compensation of loss of future earnings of the debtor or an individual of whom the debtor is or was a dependent, to the extent reasonably necessary for the support of the debtor and any dependent of the debtor.Amended by S.L. 2023, ch. 299 (SB 2206),§ 1, eff. 7/1/2023.Amended by S.L. 2015 , ch. 235( HB 1086 ), § 2, eff. 8/1/2015.