SB1106: AN ACT to amend Tennessee Code Annotated, Title 56, relative to creditor claims to insurance proceeds.
Legislative Summary
As enacted, clarifies that the exemption from claims of creditors for the net amount payable under a policy of life insurance or under an annuity contract upon the life of a person made for the benefit of, or assigned to, the spouse, children, or dependent relatives of the person includes claims through execution, attachment, seizure, and garnishment, and that use of exempt funds does not change the classification of the funds used from exempt to nonexempt. - Amends TCA Title 56.
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Bill History
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