CHAPTER 81

FORMERLY

SENATE BILL NO. 211

AS AMENDED BY HOUSE AMENDMENT NO. 1

AN ACT TO AMEND SUBCHAPTER I, CHAPTER 49, TITLE 10, OF THE DELAWARE CODE RELATING TO EXEMPTIONS IN BANKRUPTCY AND INSOLVENCY.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:

Section 1. Amend Subchapter I, Chapter 99, Title 10 of the Delaware Code by adding a new Section 4914 thereto as follows:

"§4914. Exemptions in Bankruptcy and Insolvency

(a) In accordance with Section 522(b) of the Bankruptcy Reform Act of 1978 (11 U.S.C. §522(b)), In any bankruptcy proceeding, an individual debtor domiciled in Delaware is not authorized or entitled to elect the federal exemptions as set forth in Section 522(d) of the Bankruptcy Reform Act of 1978 (11 U.S.C. §522(0 and may exempt only that property from the estate as set forth in subsection (b) of this Section.

(a) In any federal bankruptcy or State insolvency proceeding, an individual debtor domiciled in Delaware shall be authorized to exempt from the bankruptcy or insolvency estate property having an aggregate fair market value of not more than $5,000.00.

(a) This Section shall apply separately with respect to each debtor in a joint proceeding."

Approved July 1, 1981.