35-15-404. Share exempt from attachment and execution -- sale upon death of member.
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35-15-404 . Share exempt from attachment and execution -- sale upon death of member.
(1)The share, not exceeding the par value of $500, of each member is exempt from seizure on attachment or sale under execution.
(2)Upon a member's death, the share must be sold by the association and the proceeds, after deducting all liabilities to the association, must be delivered to the deceased member's heirs.