OKLAHOMA

Has state opted out of federal bankruptcy exemptions? Yes. Okla. Stat. tit. 31, § 1(B).

Is opt out limited to residents or domiciliaries of the state? Yes. Okla. Stat. tit. 31, § 1(B): “No natural person residing in this state may exempt from the property of the estate in any bankruptcy proceeding the property specified in [§ 522)d)] . . . .”

Do state’s exemptions have extraterritorial application?

Homestead: Probably not. Okla. Stat. tit. 31, § 1 applies to “every person residing in the state.” See In re Copeland, 2018 WL 6583991 (Bankr. W.D. Okla. Dec. 12, 2018) (Oklahoma opt-out provision combined with the 730-day residence requirement precluded debtor from claiming Oklahoma homestead exemption in property located in California).

Personal property: Probably not. Okla. Stat. tit. 31, § 1 applies to “every person residing in the state.”

Wages: Okla. Stat. tit. 12, §§ 1171.1, 1171.2; Okla. Stat. tit. 31, §§ 1(A)(18), 1.1.

Scope: Money earned by a natural person as wages, salary, bonus, or commission for personal services.

Amount: Follows federal scheme except debtor who is supporting dependent(s) may exempt a larger percentage on a showing of hardship. Okla. Stat. tit. 12, § 1171.1; Okla. Stat. tit. 31, §§ 1(18), 1.1.

Survival after payment/deposit: Protections apply to earnings within previous 90 days. Okla. Stat. tit. 31, § 1(18).

Waiver: Not specified in garnishment statute.

Homestead: Okla. Const. art. XII, § 1; Okla. Stat. tit. 31, §§ 1, 2, 5.

Amount: 160 acres not within any city or town, or annexed by a city or town after November 1, 1997, and owned, occupied, and used for both residential and commercial agricultural purposes; urban homestead exemption shall not exceed $5000 if more than 25% of the square foot area of the improvements on the land is used for business purposes or if less than 75% of square foot area of the improvements on the land is used as principal residence. Okla. Const. art. XII, § 1; Okla. Stat. tit. 31, §§ 1, 2. Subject to certain liens. Okla. Stat. tit. 31, § 5.

Procedural requirements: None specified in exemption statute.

Special provisions: Temporary rental of the homestead, without acquiring a new homestead, will not eliminate exemption.

Waiver: Not specified in exemption statute. Okla. Stat. tit. 31, § 2.

Tangible personal property: Okla. Stat. tit. 31, § 1.

Household goods: All household furniture, including a personal computer and related equipment, books, portraits, and pictures. Okla. Stat. tit. 31, §§ 1(3), 1(6).

Motor vehicles: $7500 in one vehicle. Okla. Stat. tit. 31, § 1(13).

Tools of trade: $10,000 aggregate in tools of trade and farming implements. Okla. Stat. tit. 31, § 1(5).

Clothing and jewelry: $4000 clothing, $3000 in wedding and anniversary rings. Okla. Stat. tit. 31, §§ 1(7), 1(8)

Miscellaneous and wildcard: Health aids (Okla. Stat. tit. 31, § 1(9)), a limited number of poultry and livestock (Okla. Stat. tit. 31, §§ 1(10) through 1(13), 1(15), 1(16)), $2000 in guns (Okla. Stat. tit. 31, § 1(14)), and a year’s supply of provisions (Okla. Stat. tit. 31, § 1(17)); burial place. Okla. Stat. tit. 31, § 1(4).

Waiver: Not specified in exemption statute.

Benefits, retirement plans, insurance, judgments, and other intangibles: Okla. Stat. tit. 31, §§ 1, 7.

Public benefits: Amount received as earned income tax credit. Okla. Stat. tit. 31, § 1(23). See also Okla. Stat. tit. 56, § 173 (assistance received under certain statutes is exempt).

Pensions, retirement plans, and annuities: Military pensions (Okla. Stat. tit. 31, § 7); certain tax-qualified retirement plans. Okla. Stat. tit. 31, § 1(20).

Insurance, judgments, or other compensation for injury: Up to $50,000 personal injury, wrongful death, or workers’ compensation (no punitive damages). Okla. Stat. tit. 31, § 1(21).

Bank accounts: Any interest in Oklahoma college tuition savings plan, created pursuant to Okla. Stat. tit. 70, §§ 3970.1 to 3970.12. Okla. Stat. tit. 31, § 1(24). Funds in a personal development account, pursuant to Title 56, §§ 251 et seq. Okla. Stat. tit. 31, § 1(22).

Alimony, child support: Right to receive alimony, separate support, or child support, so far as needed for support. Okla. Stat. tit. 31, § 1(19).

Tax refunds: Amount received as earned income tax credit. Okla. Stat. tit. 31, § 1(23).

Survival after payment or deposit: Not specified in exemption statute.