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Colorado State Bankruptcy Exemptions

Colorado Revised Statutes

13-54-102. Property exempt

(1) The following property is exempt from levy and sale under writ of attachment or writ of execution:

(a) The necessary wearing apparel of the debtor and each dependent to the extent of one thousand five hundred dollars

in value;

(b) Watches, jewelry, and articles of adornment of the debtor and each dependent to the extent of two thousand dollars

in value;

(c) The library, family pictures, and school books of the debtor and the debtor’s dependents to the extent of one

thousand five hundred dollars in value; except that this paragraph (c) shall not apply to any such property constituting all or part of the stock in trade of the debtor;

(d) Burial sites, including spaces in mausoleums, to the extent of one site or space for the debtor and each dependent;

(e) The household goods owned and used by the debtor or the debtor’s dependents to the extent of three thousand

dollars in value;

(f) Provisions and fuel on hand for the use or consumption of the debtor or the debtor’s dependents to the extent of six

hundred dollars in value;

(g) (I) Except as otherwise provided in subparagraph (II) of this paragraph (g), in the case of every debtor engaged in

agriculture as the debtor’s principal occupation, including but not limited to farming, ranching, dairy production, and the

raising of livestock or poultry, all livestock, poultry, or other animals and all tractors, farm implements, trucks used in

agricultural operations, harvesting equipment, seed, and agricultural machinery and tools in the aggregate value of fifty thousand dollars.

(II) Only one exemption in the aggregate value of fifty thousand dollars shall be allowed for a debtor and his or her

spouse under subparagraph (I) of this paragraph (g). In the event that property is claimed as exempt by a debtor or his

or her spouse under subparagraph (I) of this paragraph (g), no exemption shall be allowed for such debtor or his or her

spouse under paragraph (i) of this subsection (1).

(h) Except for amounts due under court-ordered support of children or spouse which are subject to the exemption

provisions of section 13-54-104, all money received by any person as a pension, compensation, or allowance for any

purpose on account or arising out of the services of such person as a member of the armed forces of the United States in time of war or armed conflict, and whether in the actual possession of the recipient thereof or deposited or loaned by him, and a like exemption to the unremarried widow or widower and the children of such person who receive a pension, compensation, or allowance of any kind from the United States on account or arising out of such service by a deceased member of such armed forces; and when a debtor entitled to exemption under this paragraph (h) dies or leaves his family said exemption shall extend to the dependents of said debtor;

(h.5) The articles of military equipment personally owned by members of the National Guard;

(i) The stock in trade, supplies, fixtures, maps, machines, tools, electronics, equipment, books, and business materials of any debtor used and kept for the purpose of carrying on any gainful occupation in the aggregate value of twenty

thousand dollars; except that exempt property described in this paragraph (i) may not also be claimed as exempt

pursuant to paragraph (j) of this subsection (1);

(j) (I) One or more motor vehicles or bicycles kept and used by any debtor in the aggregate value of five thousand

dollars; or (II) (A) One or more motor vehicles kept and used by any elderly or disabled debtor, or by any debtor with an elderly or disabled spouse or dependent, in the aggregate value of ten thousand dollars.

(B) (Deleted by amendment, L. 2007, p. 876, § 3, effective May 14, 2007.)

(k) The library of any debtor who is a professional person, including a minister or priest of any faith, kept and used by the debtor in carrying on his or her profession, in the value of three thousand dollars; except that exemptions with respect to any of the property described in this paragraph (k) may not also be claimed under paragraph (i) of this subsection (1);

(l) (I) (A) The cash surrender value of policies or certificates of life insurance to the extent of fifty thousand dollars for

writs of attachment or writs of execution issued against the insured; except that there is no exemption for increases in

cash value from moneys contributed to a policy or certificate of life insurance during the forty-eight months prior to the issuance of such writ of attachment or writ of execution; and

(B) The proceeds of policies or certificates of life insurance paid upon the death of the insured to a designated

beneficiary, without limitation as to amount, for writs of attachment or writs of execution issued against the insured.

(II) The provisions of this paragraph (l) shall not be interpreted to provide an exemption for attachment or execution of the proceeds of any policy or certificate of life insurance to pay the debts of a beneficiary of such policy or certificate.

(III) The provisions of this paragraph (l) shall not provide an exemption for attachment or execution of the proceeds of any policy or certificate of life insurance if the beneficiary of such policy or certificate is the estate of the insured.

(m) The proceeds of any claim for loss, destruction, or damage and the avails of any fire or casualty insurance payable

because of loss, destruction, or damage to any property which would have been exempt under this article to the extent of the exemptions incident to such property;

(n) The proceeds of any claim for damages for personal injuries suffered by any debtor except for obligations incurred for treatment of any kind for such injuries or collection of such damages;

(o) The full amount of any federal or state income tax refund attributed to an earned income tax credit or a child tax

credit;

(p) Professionally prescribed health aids for the debtor or a dependent of the debtor;

(q) The debtor’s right to receive, or property that is traceable to, an award under a crime victim’s reparation law;

(r) For purposes of garnishment proceedings pursuant to the provisions of article 54.5 of this title, any amount held by a third party as a security deposit, as defined in section 38-12-102(2), C.R.S., or any amount held by a third party as a

utility deposit to secure payment for utility goods or services used or consumed by the debtor or his dependents;

(s) Property, including funds, held in or payable from any pension or retirement plan or deferred compensation plan,

including those in which the debtor has received benefits or payments, has the present right to receive benefits or payments, or has the right to receive benefits or payments in the future and including pensions or plans which qualify

under the federal “Employee Retirement Income Security Act of 1974″, as amended, as an employee pension benefit

plan, as defined in 29 U.S.C. sec. 1002, any individual retirement account, as defined in 26 U.S.C. sec. 408, any Roth

individual retirement account, as defined in 26 U.S.C. sec. 408A, and any plan, as defined in 26 U.S.C. sec. 401, and as

these plans may be amended from time to time;

(t) All property which is subject to a judgment against a debtor for failure to pay state income tax to a state for periods

when such individual was not a resident of such state on benefits received from a pension or other retirement plan;

(u) Any court-ordered domestic support obligation or payment, including a maintenance obligation or payment or a child support obligation or payment, if the child support obligation or payment meets the requirements of section 13-54-102.5;

(v) Any claim for public or private disability benefits due, or any proceeds thereof, not otherwise provided for under law, up to three thousand dollars per month. Any claim or proceeds in excess of this amount shall be subject to garnishment in accordance with section 13-54-104.

(2) Notwithstanding the provisions of paragraph (h) of subsection (1) of this section and section 13-54-104, military

pensions shall be subject to court-ordered support of children or spouse.

(3) Notwithstanding the provisions of paragraph (s) of subsection (1) of this section, any pension or retirement benefit or payment shall be subject to attachment or levy in satisfaction of a judgment taken for arrearages for child support or for child support debt, subject to the limitations contained in section 13-54-104.

(4) Notwithstanding anything to the contrary in this section, all property of a person who has committed a felonious

killing, as defined in section 15-11-803(1)(b), C.R.S., and as determined in the manner described in section 15-11-803(7),

C.R.S., shall be subject to attachment or levy in satisfaction of a judgment awarded pursuant to section 13-21-201 or

section 13-21-202 for such felonious killing.

(5)(a) As provided in the exception contained in 11 U.S.C. sec. 522(f) (3), as amended, a debtor shall not avoid a

consensual lien on property otherwise eligible to be claimed as exempt property.

(b) As used in this subsection (5), unless the context otherwise requires, “consensual lien” means a lien on property

granted with the consent and approval of the owner.

13-54-102.5. Child support payments – exemption – deposit into custodial account

(1) Any past or present child support obligation owed by a parent or child support payment made by a parent that is

required by a support order is exempt from levy under writ of attachment or writ of execution for any debt owed by

either parent. A child support payment is no longer exempt under the provisions of this section if the recipient of the

payment intermingles the payment with any other moneys.

(2) A child support payment is only exempt under the provisions of subsection (1) of this section after the payment is

deposited in a bank, savings and loan, or credit union account if the account is a custodial account for the benefit of the

child designated for child support payments and if no moneys other than child support payments made pursuant to a

support order or interest earned on the moneys in the account are deposited into the account.

13-54-107. Exemptions in bankruptcy

The exemptions provided in section 522 (d) of the federal bankruptcy code of 1978 (Title 11 of the United States Code),

as amended, are denied to residents of this state. Exemptions authorized to be claimed by residents of this state shall be limited to those exemptions expressly provided by the statutes of this state.

38-41-201. Homestead exemption

(1) Every homestead in the state of Colorado shall be exempt from execution and attachment arising from any debt,

contract, or civil obligation not exceeding in actual cash value in excess of any liens or encumbrances on the

homesteaded property in existence at the time of any levy of execution thereon:

(a) The sum of sixty thousand dollars if the homestead is occupied as a home by an owner thereof or an owner’s family;

or (b) The sum of ninety thousand dollars if the homestead is occupied as a home by an elderly or disabled owner, an

elderly or disabled spouse of an owner, or an elderly or disabled dependent of an owner.

(2) As used in this section, unless the context otherwise requires:

(a) “Disabled owner”, “disabled spouse”, or “disabled dependent” means an owner, spouse, or dependent who has a

physical or mental impairment that is disabling and that, because of other factors such as age, training, experience, or

social setting, substantially precludes the owner, spouse, or dependent from engaging in a useful occupation, as a

homemaker, a wage earner, or a self-employed person in any employment that exists in the community and for which he or she has competence.

(b) “Elderly owner”, “elderly spouse”, or “elderly dependent” means an owner, spouse, or dependent who is sixty years of age or older.

38-41-201.6. Mobile home, manufactured home, trailer, and trailer coach homestead exemption

(1) A manufactured home as defined in section 38-29-102 (6), which includes a mobile home or manufactured home as

defined in section 38-12-201.5 (2), 5-1-301 (29), or 42-1-102 (106) (b), C.R.S., that has been purchased by an initial user or subsequent user and for which a certificate of title or registration has been issued in accordance with section 38-29-

110 or pursuant to section 38-29-108, is a homestead and is entitled to the same exemption as enumerated in section

38-41-201, except for any loans, debts, or obligations incurred prior to January 1, 1983. For purposes of this homestead exemption, the term “house” as used in section 38-41-205 shall be deemed to include mobile homes or manufactured homes.

(2) A trailer as defined in section 42-1-102 (105), C.R.S., or a trailer coach as defined in section 42-1-102 (106) (a),

C.R.S., that has been purchased by an initial user or subsequent user and for which a certificate of title or registration has been issued pursuant to section 42-3-103, C.R.S., is a homestead and is entitled to the same exemption as enumerated in section 38-41-201, except for any loans, debts, or obligations incurred prior to July 1, 2000. For purposes of this homestead exemption, the term “house” as used in section 38-41-205 shall be deemed to include trailers or trailer coaches.

38-41-207. Proceeds exempt – bona fide purchaser

The proceeds from the exempt amount under this part 2, in the event the property is sold by the owner, or the proceeds from such sale under section 38-41-206 paid to the owner of the property or person entitled to the homestead shall be exempt from execution or attachment for a period of one year after such sale if the person entitled to such exemption keeps the exempted proceeds separate and apart from other moneys so that the same may be always identified. If the person receiving such proceeds uses said proceeds in the acquisition of other property for a home, there shall be carried over to the new property the same homestead exemption to which the owner was entitled on the property sold. Such homestead exemption shall not be valid as against one entitled to a vendor’s lien or the holder of a purchase money mortgage against said new property.

38-41-209. Insurance proceeds

Whenever the improvements on property which has been homesteaded are insured in favor of a person entitled to the

exemption and a loss is incurred entitling such person to the insurance or a part thereof, such insurance proceeds to the amount of the exemption shall be exempt in the same manner as provided for a sale of the homesteaded property.

13-54-104. Restrictions on garnishment and levy under execution or attachment

(1) As used in this section, unless the context otherwise requires:

(a) “Disposable earnings” means that part of the earnings of any individual remaining after the deduction from those

earnings of any amounts required by law to be withheld and after the deduction of the cost of any health insurance

provided by the individual pursuant to section 14-14-112, C.R.S. In the case of an order for the support of a spouse,

former spouse, or dependent child, “disposable earnings” includes moneys voluntarily deposited in tax-deferred

compensation funds.

(b) (I) “Earnings” means:

(A) Compensation paid or payable for personal services, whether denominated as wages, salary, commission, or bonus;

(B) Funds held in or payable from any health, accident, or disability insurance.

(II) For the purposes of writs of garnishment that are the result of a judgment taken for arrearages for child support or

for child support debt, “earnings” also means:

(A) Workers’ compensation benefits;

(B) Any pension or retirement benefits or payments, including but not limited to those paid pursuant to article 64 of title

22, C.R.S., articles 51, 54, 54.5, 54.6, and 54.7 of title 24, C.R.S., and article 30 of title 31, C.R.S.;

(C) Payment to an independent contractor for labor or services, dividends, severance pay, royalties, monetary gifts,

monetary prizes, excluding lottery winnings not required by the rules of the Colorado lottery commission to be paid only at the lottery office, taxable distributions from general partnerships, limited partnerships, closely held corporations, or limited liability companies, interest, trust income, annuities, capital gains, or rents;

(D) Any funds held in or payable from any health, accident, disability, or casualty insurance to the extent that such

insurance replaces wages or provides income in lieu of wages; and

(E) Tips declared by the individual for purposes of reporting to the federal internal revenue service or tips imputed to

bring the employee’s gross earnings to the minimum wage for the number of hours worked, whichever is greater.

(III) For the purposes of writs of garnishment issued by the state agency responsible for administering the state medical assistance program, which writs are issued as a result of a judgment for medical support for child support or for medical support debt, “earnings” includes:

(A) Payments received from a third party to cover the health care cost of the child but which payments have not been

applied to cover the child’s health care costs;

(A.5) Unemployment insurance benefits; and

(B) State tax refunds.

(1.1) Repealed.

(2) (a) Except as provided in subsection (3) of this section, the maximum part of the aggregate disposable earnings of an individual for any workweek which is subjected to garnishment or levy under execution or attachment may not exceed:

(I) For debts other than debts under subparagraph (II) of this paragraph (a), twenty-five percent of the individual’s

disposable earnings for that week or the amount by which the individual’s disposable earnings for that week exceed thirty times the federal minimum hourly wage prescribed by section 206 (a)(1) of title 29 of the United States Code in effect at the time the earnings are payable, whichever is less;

(II) For debts for fraudulently obtained public assistance or fraudulently obtained overpayments collected pursuant to section 26-2-128 (1) (a), C.R.S., thirty-five percent of the individual’s disposable earnings for that week or the amount by which the individual’s disposable earnings for that week exceed thirty times the federal minimum hourly wage prescribed by section 206 (a)(1) of title 29 of the United States Code in effect at the time the earnings are payable, whichever is less.

(b) In the case of earnings for any pay period other than a week, a multiple of the federal minimum hourly wage

equivalent in effect to that set forth in paragraph (a) of this subsection (2) as prescribed by the secretary of labor of the

United States shall be used.

(3) (a) The restrictions of subsection (2) of this section do not apply in the case of:

(I) Any order for the support of any person issued by a court of competent jurisdiction or in accordance with an

administrative procedure which is established by state law, which affords substantial due process, and which is subject to judicial review;

(II) Any order of any court of the United States having jurisdiction over cases under chapter 13 of Title 11 of the United

States Code (the federal bankruptcy code of 1978);

(III) Any debt due for any state or federal tax.

(b) (I) The maximum part of the aggregate disposable earnings of an individual for any workweek which is subject to

garnishment or levy under execution or attachment to enforce any order for the support of any person shall not exceed:

(A) Where such individual is supporting his spouse or dependent child, other than a spouse or child with respect to whose support such order is used, fifty percent of such individual’s disposable earnings for that week; and

(B) Where such individual is not supporting a spouse or dependent child as described in sub-subparagraph (A) of this

subparagraph (I), sixty percent of such individual’s disposable earnings for that week;

(II) With respect to the disposable earnings of any individual for any workweek, the fifty percent specified in subsubparagraph

(A) of subparagraph (I) of this paragraph (b) shall be deemed to be fifty-five percent, and the sixty percent

specified in sub-subparagraph (B) of subparagraph (I) of this paragraph (b) shall be deemed to be sixty-five percent if

and to the extent that such earnings are subject to garnishment or wage assignment or income assignment or levy under execution or attachment to enforce a support order with respect to a period that is prior to the twelve-week period that ends with the beginning of such workweek.

(III) Notwithstanding the maximum part of the aggregate disposable earnings of an individual which is subject to

garnishment as provided in this paragraph (b), a debtor who is totally and permanently disabled and who establishes that at least seventy-five percent of his income is derived from any disability income or benefits may object to the amount of the aggregate disposable earnings subject to garnishment under this paragraph (b). The court, upon consideration of the circumstances of the parties, may provide for garnishment in an amount less than such maximum amounts.

(4) The restrictions established by this section shall be adhered to whether or not the employer of the debtor is subject to garnishee process.

8-42-124. Assignability and exemption of claims – payment to employers – when

(1) Except for amounts due under court-ordered support, claims for compensation or benefits due under articles 40 to 47 of this title shall not be assigned, released, or commuted except as provided in said articles and shall be exempt from all claims of creditors and from levy, execution, and attachment or other remedy or recovery or collection of a debt, which exemption may not be waived.

(2) The power given in any power of attorney or other authority from any injured employee or the dependents of any

killed employee purporting to authorize any other person to receive, be paid, or receipt for any compensation benefits

awarded any such claimant shall be wholly void and illegal and of no force and effect; except that:

(a) Any employer who is subject to the provisions of articles 40 to 47 of this title and who, by separate agreement,

working agreement, contract of hire, or any other procedure, continues to pay a sum in excess of the temporary total

disability benefits prescribed by articles 40 to 47 of this title to any employee temporarily disabled as a result of any injury arising out of and in the course of such employee’s employment and has not charged the employee with any earned vacation leave, sick leave, or other similar benefits shall be reimbursed if insured by an insurance carrier or shall take credit if self-insured to the extent of all moneys that such employee may be eligible to receive as compensation or benefits for temporary partial or temporary total disability under the provisions of said articles, subject to the approval of the director. If the employee is injured while under a fixed duration contract of employment, all salary and wages paid pursuant to that contract shall be prorated over the duration of the contract in determining whether in any given week the employer paid a sum in excess of the temporary total disability benefit.

(b) This subsection (2) shall not apply to an attorney licensed to practice law in this state and acting in accordance with a power of attorney given by the claimant solely for the purpose of distributing funds pursuant to an admission of liability or an order of the division.

(3) Such payments shall be paid directly to the employer during the period of time that such employer continues to pay a sum in excess of the temporary total disability benefits prescribed by articles 40 to 47 of this title and has not charged any earned vacation leave, sick leave, or other similar benefits to any employee so disabled and for so long as such employee is eligible for temporary disability benefits under the provisions of articles 40 to 47 of this title. The payment of such moneys to an employer shall constitute the payment of compensation or benefits to the employee in accordance with the provisions of section 8-42-103.

(4) When the payment by an employer to any such disabled employee is reduced to a sum equal to or less than the

temporary total disability benefits prescribed by articles 40 to 47 of this title, or when the employer has charged the

employee with any earned vacation leave, sick leave, or other similar benefits for any reason, the rights of the employee to receive direct payment of any award for temporary partial or temporary total disability that said employee may be entitled to on and after the effective date of such reduction shall be reinstated in accordance with the provisions of articles 40 to 47 of this title.

(5) Any employer subject to the provisions of articles 40 to 47 of this title and otherwise qualifying for direct payment of employee benefits as provided in this section shall notify the division and the insurance carrier of such employer’s

eligibility to receive such moneys. The director shall approve such direct payment after the filing of such information by the employer as the director may require.

(6) Nothing in this section shall be construed to limit in any way the right of any employee to full payment of any award

which may be granted to said employee for permanent partial or permanent total disability under the provisions of articles 40 to 47 of this title; except that benefits for permanent total disability and permanent partial disability shall be subject to wage assignment or income assignment as wages pursuant to section 14-14-102 (9), C.R.S., and subject to garnishment as earnings pursuant to section 13-54.5-101 (2) (b), C.R.S., and subject to administrative lien and attachment pursuant to section 26-13-122, C.R.S., for purposes of enforcement of court-ordered child support.

(7) Following an injury, any injured employee may authorize in writing the continuation of any payroll deduction which the employee had authorized or could have authorized before the injury, which authorization shall be legal and may be honored by the employer to the extent that proceeds of compensation of claims are available to the employer or are made available to the employer by the employer’s insurance carrier for this purpose until the authorization is revoked in writing by the injured employee.

(8) If any employer who pays to an injured employee a sum in excess of the temporary total disability benefits prescribed by articles 40 to 47 of this title and who has not charged the employee with any earned vacation leave, sick leave, or other similar benefits seeks to have assigned the compensation benefits otherwise due the injured employee as provided in this section, the employer shall notify the employee of said request at the same time the employer makes the request of the director or insurance carrier or both.

8-80-103. Assignment of benefits void – exemptions

Any assignment, pledge, or encumbrance of any right to benefits which are or may become due or payable under articles 70 to 82 of this title shall be void. Except as provided in the “Colorado Child Support Enforcement Procedures Act”, article 14 of title 14, C.R.S., such rights to benefits shall be exempt from levy, execution, attachment, or any other remedy provided for the collection of debt. Benefits received by any individual, so long as they are not mingled with other funds of the recipient, shall be exempt from any remedy for the collection of all debts except debts incurred for necessaries furnished to such individual, his spouse, or dependents during the time when such individual was unemployed or child support debt or arrearages as specified in article 14 of title 14, C.R.S. Any waiver of any exemption provided for in this section shall be void.

10-7-205. Exemption from execution

No policy of group insurance, nor the proceeds thereof, when paid to any employee thereunder, shall be liable to

attachment, garnishment, or other process, or be seized, taken, appropriated, or applied by any legal or equitable process or operation of law, to pay any debt or liability of such employee, or his beneficiary, or any other person who may have a right thereunder, either before or after payment, nor shall the proceeds thereof, where not made payable to a named beneficiary, constitute a part of the estate of the employee for the payment of his debts.

10-7-106. Exclusive right of insured in proceeds

Whenever, under the terms of any annuity or policy of life insurance, or under any written agreement supplemental

thereto, issued by any insurance company, domestic or foreign, lawfully doing business in this state, the proceeds are

retained by such company at maturity or otherwise, no person, other than the insured, entitled to any part of such

proceeds or any installment of interest due or to become due thereon shall be permitted to commute, anticipate,

encumber, alienate, or assign the same, or any part thereof, if such permission is expressly withheld by the terms of such policy or supplemental agreement; and, if such policy or supplemental agreement so provides, no payments of interest or of principal shall be in any way subject to such person’s debts, contracts, or engagements nor to any judicial processes to levy upon or attach the same for payment thereof.

10-16-212. Exemption from attachment and execution

So much of any benefits under all policies of sickness and accident insurance as does not exceed two hundred dollars for each month during any period of disability covered by such policy shall not be liable to attachment, trustee process, or other process, or to be seized, taken, appropriated, or applied by any legal or equitable process or by operation of law, either before or after payment of such benefits, to pay any debt or liabilities of the person insured under such policy. This exemption shall not apply where an action is brought to recover for necessaries contracted for during such period and the writ or complaint contains a statement to that effect. When a policy provides for a lump sum payment because of a dismemberment or other loss insured, such payment shall be exempt from execution by the insured’s creditors.

10-14-403. Benefits not attachable

No money or other benefit, charity, relief, or aid to be paid, provided, or rendered by any society shall be liable to

attachment, garnishment, or other process or to be seized, taken, appropriated, or applied by any legal or equitable

process or operation of law to pay any debt or liability of a member, beneficiary, or any other person who may have a

right thereunder either before or after payment by the society.

22-64-120. Funds not subject to process

Except for assignments for child support purposes as provided for in sections 14-10-118 (1) and 14-14-107, C.R.S., as

they existed prior to July 1, 1996, for income assignments for child support purposes pursuant to section 14-14-111.5,

C.R.S., for writs of garnishment that are the result of a judgment taken for arrearages for child support or for child

support debt, and for payments made in compliance with a properly executed court order approving a written agreement entered into pursuant to section 14-10-113 (6), C.R.S., none of the moneys, payments, or other benefits mentioned in this article shall be assignable either in law or in equity nor be subject to execution, levy, attachment, garnishment, or other legal process.

24-51-212. Funds not subject to legal process

Except for federal tax liens on distributions payable by the association, and except for assignments for child support

purposes as provided for in sections 14-10-118 (1) and 14-14-107, C.R.S., as they existed prior to July 1, 1996, and

except for income assignments for child support purposes pursuant to section 14-14-111.5, C.R.S., for writs of

garnishment that are the result of a judgment taken for arrearages for child support or for child support debt, and for

payments from the association in compliance with a properly executed court order approving a written agreement

entered into pursuant to section 14-10-113 (6), C.R.S., none of the moneys, trust funds, reserves, accounts, contributions pursuant to parts 4 and 5 of this article, or benefits referred to in this article shall be assignable either in law or in equity or be subject to execution, levy, attachment, garnishment, bankruptcy proceedings, or other legal process. Member contributions are subject to garnishment resulting from a judgment taken for arrearages for child support or for child support debt only if the membership has terminated and the member is not vested.

26-2-131. Public assistance not assignable

No assistance payments made to an eligible recipient under this article shall be transferable or assignable at law or in

equity, and none of the money paid or payable under this article shall be subject to execution, levy, attachment,

garnishment, or other legal process or to the operation of any bankruptcy or insolvency law.

31-30-1117. Exemption from levy

(1) Except for an assignment for child support purposes as provided in sections 14-10-118 (1) and 14-14-107, as they

existed prior to July 1, 1996, and except for income assignments for child support purposes pursuant to section 14-14-

111.5, C.R.S., and a writ of garnishment that is the result of a judgment taken for arrearages for child support or for child support debt, no part of the fund, either before or after any order for distribution of the fund to a fire department

member, retired fire department member, or beneficiary of the fund or the surviving spouse or guardian of any child of a deceased or disabled fire department member or of a deceased, disabled, or retired fire department member shall be

held, seized, taken, subjected to, detained, or levied on by virtue of any attachment, execution, protest, or proceeding of any nature whatsoever issued out of or by any court in this or any other state for the payment or satisfaction of all or part of any debt, damages, claim, demand, judgment, fine, or amercement of the municipality or district or of a fire

department member, retired fire department member, or their surviving spouses, dependent children, or designated

beneficiaries.

(2) Except as provided in section 31-30-1118, the fund must be kept, secured, and distributed for the purpose of issuing pensions and protecting the persons named in this part 11 and for no other purpose whatsoever; except that the board may annually spend moneys as it deems proper and necessary from the fund for necessary expenses connected with the fund.

31-30.5-208. Fund not subject to levy

Except for assignments for child support purposes as provided for in sections 14-10-118 (1) and 14-14-107, C.R.S., as

they existed prior to July 1, 1996, for income assignments for child support purposes pursuant to section 14-14-111.5,

C.R.S., for writs of garnishment that are the result of a judgment taken for arrearages for child support or for child

support debt, and for payments made in compliance with a properly executed court order approving a written agreement entered into pursuant to section 14-10-113 (6), C.R.S., no portion of the fund, before or after its order for distribution by the board to the persons entitled thereto, shall be held, seized, taken, subjected to, detained, or levied on by virtue of any attachment, execution, injunction, writ, interlocutory or other order or decree, or process or proceeding whatsoever issued out of or by any court of this state for the payment or satisfaction, in whole or in part, of any debt, damage, claim, demand, or judgment against the employer or the beneficiary of the fund. Said fund shall be held and distributed for the purposes of this article and for no other purpose whatsoever.

31-31-203. Fund not subject to levy

Except for assignments for child support purposes as provided for in sections 14-10-118 (1) and 14-14-107, C.R.S., as

they existed prior to July 1, 1996, for income assignments for child support purposes pursuant to section 14-14-111.5,

C.R.S., for writs of garnishment that are the result of a judgment taken for arrearages for child support or for child

support debt, and for payments made in compliance with a properly executed court order approving a written agreement entered into pursuant to section 14-10-113 (6), C.R.S., no portion of the funds created pursuant to sections 31-31-301, 31-31-502, and 31-31-703, before or after their order for distribution by the board to the persons entitled thereto, shall be held, seized, taken, subjected to, detained, or levied on by virtue of any attachment, execution, injunction, writ, interlocutory or other order or decree, or process or proceeding whatsoever issued out of or by any court of this state for the payment or satisfaction, in whole or in part, of any debt, damage, claim, demand, or judgment against the fire and police pension association or employers that belong to such association or the beneficiary of such funds. The funds shall be held and distributed for the purpose of this article and for no other purpose whatsoever.

24-52-102. Deferred compensation plan – state deferred compensation committee

(1) (a) (I) (A) Thirty days after August 5, 1998, the existing state deferred compensation committee is abolished, and,

except as otherwise provided in subparagraph (II) of this paragraph (a), the terms of the members of the committee then serving are terminated.

(B) Thirty days after August 5, 1998, there is hereby created the state deferred compensation committee consisting of the following nine members: The state treasurer, the state controller, or their designees; four employees who are participants in the deferred compensation plan, one of whom may be a retiree who is a participant in the plan, and who are elected by participants in the plan; a participant in the deferred compensation plan who shall be appointed by the governor; and two members of the general assembly, one a senator, or former senator who is no longer serving in the general assembly at the time of appointment and who is a participant in the deferred compensation plan, to be appointed by the president of the senate and one a representative, or former representative who is no longer serving in the general assembly and who is a participant in the deferred compensation plan, to be appointed by the speaker of the house of representatives. Each member who is a state official or the member’s designee shall serve on the committee for the duration of the member’s elected or appointed term of office. Members who are members of the general assembly shall serve on the committee for the duration of their elected terms of office as members of the general assembly; except that a former senator or representative who was not serving in the general assembly at the time of appointment shall serve at the pleasure of the official who appointed such individual to the committee and the participant in the plan appointed by the governor shall serve at the pleasure of the governor.

(II) Thirty days after August 5, 1998, the committee members elected by participants in the deferred compensation plan shall be elected for terms of four years; except that elected members who represented deferred compensation plan participants on the state deferred compensation committee abolished pursuant to sub-subparagraph (A) of subparagraph

(I) of this paragraph (a) at the time such committee was abolished shall serve on the committee created in subsubparagraph

(B) of subparagraph (I) of this paragraph (a) as the members elected by participants in the plan for terms ending on the date that their terms on the abolished committee were scheduled to expire. The procedure for the election of the committee members elected by participants in the deferred compensation plan shall be established by the committee. Vacancies of elected committee members elected by participants in the deferred compensation plan shall be

filled by election for the unexpired term.

(III) Notwithstanding any provision of this paragraph (a) to the contrary, on July 1, 2002, the term of the participant in the deferred compensation plan appointed by the governor pursuant to sub-subparagraph (B) of subparagraph (I) of this paragraph (a) shall terminate, and such member shall thereafter be replaced by a member of the public officials’ and employees’ defined contribution plan established and administered pursuant to part 2 of this article, who shall be

appointed by the governor.

(b) The committee shall establish rules and regulations for the administration of this article and for the transaction of its business.

(c) (I) The state deferred compensation committee shall exercise its powers and perform its duties and functions as if it

were transferred to the department of personnel by a type 1 transfer, as such transfer is defined by the “Administrative

Organization Act of 1968″, article 1 of this title.

(II) The attorney general shall provide legal advice relating to any plan established or administered pursuant to this

article upon the request of the committee.

(d) (I) The committee shall exercise its functions over which it has substantial discretion solely in the interest of the

participants in the plans established or administered pursuant to this article and their beneficiaries and for the exclusive purpose of providing benefits and defraying reasonable expenses incurred in administering such plans. The committee shall act in accordance with the provisions of this article and with the care, skill, and diligence in light of the

circumstances then prevailing that a person acting in a like capacity and familiar with such matters would use in the

conduct of an enterprise of like character and with like aims. The committee shall be the trustee of any trust established pursuant to the provisions of this article.

(II) Any provider of investment products which contracts with the committee shall be held to the standard of conduct set forth in subparagraph (I) of this paragraph (d) with respect to those functions over which the provider has substantial discretion, and the committee is hereby authorized to take such steps, including but not limited to contract amendments, as are required to accomplish the requirements of this subparagraph (II).

(e) The members of the committee shall not engage in any activities that might result in a conflict of interest with their

functions as administrators of a plan established or administered pursuant to this article.

(f) (I) The committee, in its capacity as committee and trustee, shall be considered a public entity for purposes of the

“Colorado Governmental Immunity Act”, article 10 of this title, and shall be included in the coverage provided by the risk management fund pursuant to the provisions of section 24-30-1510.

(II) The committee, in its capacity as committee and trustee, may obtain, and each plan established pursuant to this

article shall pay for, insurance or shall self-insure against liability that may arise out of, or is in connection with, the

performance of duties by any member of the committee or employee of the plan.

(2) (a) The administrator may establish and administer a deferred compensation plan for employees in addition to any

retirement, pension, benefit, or other deferred compensation plans established by the state or a political subdivision. All assets and income of the deferred compensation plan shall be held in trust for the exclusive benefit of plan participants and their beneficiaries and to pay plan expenses in accordance with section 457 (g) of the federal “Internal Revenue Code of 1986″, as amended. The deferred compensation plan, including any associated trust, shall be an eligible deferred compensation plan as defined in section 457 (b) of the federal “Internal Revenue Code of 1986″, as amended.

(b) The administrator may contract with any person, firm, or association in order to implement any of the provisions of this article relating to the establishment or administration of any plan, including the consolidation of any administrative or operational functions with a single vendor.

(c) The state deferred compensation plan shall be managed by the state personnel director, who shall be the executive

officer of the plan, and such assistants and employees as in the opinion of the director are necessary to carry out the

provisions of this part 1. All assistants and employees shall be appointed pursuant to section 13 of article XII of the state constitution and shall receive such compensation and reimbursement of expenses incurred in the performance of their duties as other employees of the state government.

(3) An employee may enter into a written agreement with the state or a political subdivision to defer any part of the

employee’s compensation for investment as provided by this part 1. The total annual amount deferred shall not exceed

the employee’s annual salary under applicable salary schedules or compensation plans and shall not exceed any limits

imposed under the plan.

(4) Compensation deferred pursuant to this part 1 is included as compensation for the purpose of computing retirement or pension benefits earned by the employee; except that such compensation is exempt from state income taxation to the same extent as it is exempt from federal income taxation. Such compensation shall be included in the determination of disposable earnings as defined in section 13-54-104 (1) (a), C.R.S., and shall be exempt from garnishment or levy under execution or attachment to the extent provided in section 13-54-104, C.R.S.

(5) (a) The committee may assess each state participant a fee for administering the state deferred compensation plan

that shall be automatically deducted and that shall not exceed one percent of the participating employee’s assets in the

state deferred compensation plan. All fees collected pursuant to this subsection (5) shall be transmitted to the state

treasurer, who shall credit the same to the deferred compensation administration fund, which fund is hereby created. All investment income derived from moneys in the fund shall be credited to the fund. At the end of any fiscal year, all

unexpended and unencumbered moneys in the fund shall remain therein and shall not be credited or transferred to the

general fund or any other fund. The general assembly shall make annual appropriations from such fund for the direct and indirect costs of administration of the deferred compensation plan under this part 1. Any fees or other moneys collected pursuant to this subsection (5) that are in excess of expenditures shall be used to reduce deferred compensation plan participants’ annual fees in subsequent years. In addition to assessing all or a portion of a fee pursuant to this paragraph

(a), the committee may contract with a vendor to pay all or a portion of the vendor’s costs and reimburse the state for

(b) Compensation deferred by participants in the state deferred compensation plan shall be credited to the deferred

compensation plan asset fund, which fund is hereby created. All investment income derived from compensation deferred by deferred compensation plan participants prior to the transmittal of such deferrals to the plan shall be credited to the state deferred compensation administration fund created in paragraph (a) of this subsection (5) for the purpose of reducing the administrative fees of plan participants.

(6) The state auditor shall conduct audits of the deferred compensation plan in accordance with section 2-3-103, C.R.S.

7-60-125. Right in specific property

(1) A partner is co-owner with the other partners of specific partnership property holding as a tenant in partnership.

(2) The incidents of tenancy in partnership are such that:

(a) A partner, subject to the provisions of this article and to any agreement between the partners, has an equal right with the other partners to possess specific partnership property for partnership purposes; except that a partner has no right to possess such property for any other purpose without the consent of the other partners;

(b) A partner’s right in specific partnership property is not assignable except in connection with the assignment of rights of all the partners in the same property;

(c) A partner’s right in specific partnership property is not subject to attachment or execution except on a claim against the partnership. When partnership property is attached for a partnership debt the partners, or any of them, or the representatives of a deceased partner, cannot claim any right under the homestead or exemption laws.

(d) On the death of a partner, the deceased partner’s right in specific partnership property vests in the surviving partner or partners, except where the deceased partner was the last surviving partner, when the right in such property vests in the deceased partner’s legal representative. The surviving partner or partners, or the legal representative of the last surviving partner has no right to possess the partnership property for any but a partnership purpose.

(e) A partner’s right in specific partnership property is not subject to dower, curtesy, or allowances to widows, heirs, or next of kin.com