1.1 	A bill for an act
1.2 	relating to creditors remedies; exempting certain life insurance proceeds and 
1.3 	the cash surrender value of certain life insurance contracts from attachment, 
1.4 	garnishment, or sale;amending Minnesota Statutes 2008, section 550.37, 
1.5 	subdivisions 10, 23.
1.6 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.7 	Section 1. Minnesota Statutes 2008, section 550.37, subdivision 10, is amended to read:
1.8 		Subd. 10.Insurance proceeds. All money received by, or payable to, a surviving 
1.9 	spouse or child from insurance payable at the death of a spouse, or parent, not exceeding 
1.10 	$20,000 $43,000. The $20,000 $43,000 exemption provided by this subdivision shall be 
1.11 	increased by $5,000 $10,500 for each dependent of the surviving spouse or child.

1.12 	Sec. 2. Minnesota Statutes 2008, section 550.37, subdivision 23, is amended to read:
1.13 		Subd. 23.Life insurance aggregate interest cash value. The debtor's aggregate 
1.14 	interest not to exceed in value $4,000 An amount sufficient to fall within the cash value 
1.15 	corridor of a life insurance contract, as specified in United States Code, title 26, section 
1.16 	7702, subsection (d), in any accrued dividend or interest under or loan value of any
1.17 	unmatured life insurance contract owned by the debtor under which the insured is the 
1.18 	debtor or an individual of whom the debtor is a dependent.