2013 New York Consolidated Laws
DCD - Debtor & Creditor
Article 10-A - (282 - 285) PERSONAL BANKRUPTCY EXEMPTIONS
282 - Permissible exemptions in bankruptcy.

 
    §  282.  Permissible  exemptions  in  bankruptcy.  Under  section five
  hundred twenty-two of title eleven of the United States  Code,  entitled
  "Bankruptcy",  an  individual  debtor domiciled in this state may exempt
  from the property of the estate, to the extent permitted  by  subsection
  (b) thereof, only (i) personal and real property exempt from application
  to  the satisfaction of money judgments under sections fifty-two hundred
  five and fifty-two hundred six of the civil practice law and rules, (ii)
  insurance policies and annuity contracts and  the  proceeds  and  avails
  thereof  as provided in section three thousand two hundred twelve of the
  insurance law and (iii) the following property:
    1. Bankruptcy exemption of a motor  vehicle.  One  motor  vehicle  not
  exceeding four thousand dollars in value above liens and encumbrances of
  the debtor; provided, however, if such vehicle has been equipped for use
  by a disabled debtor, then ten thousand dollars in value above liens and
  encumbrances of the debtor.
    2.  Bankruptcy  exemption  for right to receive benefits. The debtor's
  right to receive or the debtor's interest  in:  (a)  a  social  security
  benefit, unemployment compensation or a local public assistance benefit;
  (b)  a  veterans'  benefit;  (c)  a disability, illness, or unemployment
  benefit; (d) alimony, support, or separate maintenance,  to  the  extent
  reasonably  necessary for the support of the debtor and any dependent of
  the debtor; and (e) all payments under a stock  bonus,  pension,  profit
  sharing,  or similar plan or contract on account of illness, disability,
  death, age, or length of service  unless  (i)  such  plan  or  contract,
  except  those  qualified  under  section  401, 408 or 408A of the United
  States Internal Revenue Code of 1986, as amended, was established by the
  debtor or under the auspices of an insider that employed the  debtor  at
  the  time  the  debtor's  rights under such plan or contract arose, (ii)
  such plan is on account of age or length of service, and (iii) such plan
  or contract does not qualify under section four hundred  one  (a),  four
  hundred  three  (a),  four  hundred  three (b), four hundred eight, four
  hundred eight A, four hundred nine or four hundred  fifty-seven  of  the
  Internal Revenue Code of nineteen hundred eighty-six, as amended.
    3.  Bankruptcy  exemption  for  right to receive certain property. The
  debtor's right to receive, or property that  is  traceable  to:  (i)  an
  award  under  a crime victim's reparation law; (ii) 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; (iii) a payment, not  to  exceed
  seventy-five  hundred  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; and
  (iv) 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.