427.010 Exempt personal property, health savings funds, and disposable

360 words·~2 min read·/ky/427-010

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

earnings of individual debtors.

(1)The following personal property of an individual debtor resident in this state is

exempt from execution, attachment, garnishment, distress or fee-bill: All

household furnishings, jewelry, personal clothing and ornaments not to exceed

three thousand dollars ($3,000) in value; tools, equipment and livestock,

including poultry, of a person engaged in farming, not exceeding three

thousand dollars ($3,000) in value; one

(1)motor vehicle and its necessary

accessories, including one

(1)spare tire, not exceeding in the aggregate two

thousand five hundred dollars ($2,500) in value; professionally prescribed

health aids for the debtor, or a dependent of the debtor; and funds deposited in

a health savings account as described in Section 223 of the Internal Revenue

Code of 1986.

(2)Except as provided in subsection

(3)of this section and KRS 427.050, the

maximum part of the aggregate disposable earnings of an individual for any

workweek which is subjected to garnishment may not exceed the lesser of

either:

(a)Twenty-five percent (25%) of his disposable earnings for that week, or

(b)The amount by which his disposable earnings for that week exceed thirty

(30)times the federal minimum hourly wage prescribed by Section 6(a)(1)

of the Fair Labor Standards Act of 1938 in effect at the time the earnings

are payable. In the case of earnings for any pay period other than a week,

the multiple of the federal minimum hourly wage equivalent to that set

forth in paragraph

(b)of this subsection as prescribed by regulation by the

federal secretary of labor shall apply.

(3)The restrictions of subsection

(2)of this section do not apply in the case of:

(a)Any order of any court for the support of any person.

(b)Any order of any court of bankruptcy under Chapter 13 of the Bankruptcy

Code.

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

(4)Notwithstanding any other provision of law, no property upon which a debtor

has voluntarily granted a lien shall, to the extent of the balance due on the debt

secured thereby, be subject to the provisions of this chapter or be exempt from

forced sale under process of law.