Oklahoma Bankruptcy Exemptions

This list of exemptions updated January 2009. References are to Oklahoma Statutes Annotated unless otherwise noted. Federal bankruptcy exemptions are not available in Oklahoma.

Homestead

31-1 - Real property or manufactured home of unlimited value, but cannot exceed 160 acres if not in a city or town, or 1 acre in a city or town. You may rent the homestead as long as you do not acquire another. May be limited to $5,000 if more than 25% of area of improvements is used for business purposes.

Personal Property

8-7 - Burial plots.

31-1 - Motor vehicle up to $7,500; clothing up to $4,000; furniture, books, portraits, pictures, and health aids; food to last 1 year; 2 bridles and 2 saddles; 100 chickens, 20 sheep, 10 hogs, 5 cows and calves under 6 months, 2 horses and forage for livestock to last 1 year; personal injury, workers' compensation and wrongful death recoveries up to $50,000 total; college savings plan interest; Deposits made into an Individual Development Account; Federal earned income tax credit; guns for household use up to $2,000; anniversary and wedding rings up to $3,000; household and kitchen furniture; personal computer and related equipment; federal earned income tax credit.

36-6125 - Prepaid funeral benefits.

51-42 - War bond payroll savings accounts.

Wages

12-1171.1 & 31-1 - 75% of wages earned within 90 days prior to filing bankruptcy. Judge may approve more if you can show hardship

Pensions

11 U.S.C. § 522 - Tax exempt retirement accounts; Traditional and Roth IRAs up to $1,095,000 per person.

11-49-126 - Firefighters.

31-7 - Disabled veterans.

11-50-124 - Police officers.

20-1111 - Judges.

47-2-303.3 - Law enforcement employees.

19-959 - County employees.

60-328 - Tax exempt benefits.

31-1 - ERISA-qualified benefits.

70-17-109 - Teachers.

74-923 - Public employees.

Public Benefits

21-142.13 - Crime victims' compensation.

40-2-303 - Unemployment compensation.

56-173 - Public assistance and social Security.

85-48 - Workers' compensation.

Tools of Trade

31-1 - Tools, books, apparatus of trade, and husbandry implements to farm homestead, up to $10,000 total.

Alimony and Child Support

31-1 - Alimony and child support.

Insurance

36-2410 - Assessment or mutual benefits.

36-2510 - Limited stock insurance benefits.

36-2718.1 - Fraternal benefit society benefits.

36-3631 - Life insurance policy or proceeds if the policy does not prohibit it being paid to creditors.

36-3632 - Group life insurance policy or proceeds.

36-6125 - Funeral benefits if pre-paid and placed in trust.

Miscellaneous

6-3010 - Beneficiary's interest in a statutory support trust.

37-532 - Liquor license.

54-1-501 - Business partnership property.

Other - Add any applicable Federal Nonbankruptcy Exemptions

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