{"data":{"id":"us-ky/krs-304.14-330","jurisdiction":"us-ky","citation":"KRS 304.14-330","heading":"Exemption of proceeds, annuity contracts -- Assignability of rights.","body":"(1) The benefits, rights, privileges and options which under any annuity contract\nheretofore or hereafter issued are due or prospectively due the annuitant, shall not\nbe subject to execution nor shall the annuitant be compelled to exercise any such\nrights, po wers, or options, nor shall creditors be allowed to interfere with or\nterminate the contract, except:\n(a) As to amounts paid for or as premium on any such annuity with intent to\ndefraud creditors, with interest thereon, and of which the creditor has given\nthe insurer written notice at its principal office prior to the making of the\npayment to the annuitant out of which the creditor seeks to recover. Any such\nnotice shall specify the amount claimed or such facts as will enable the insurer\nto ascertain such a mount, and shall set forth such facts as will enable the\ninsurer to ascertain the annuity contract, the annuitant and the payment sought\nto be avoided on the ground of fraud.\n(b) The total exemption of benefits presently due and payable to any annuitant\nperiodically or at stated times under all annuity contracts under which he is an\nannuitant, shall not at any time exceed $350 per month for the length of time\nrepresented by such installments, and that such periodic payments in excess of\n$350 per month shall  be subject to garnishee execution to the same extent as\nare wages and salaries.\n(c) If the total benefits presently due and payable to any annuitant under all\nannuity contracts under which he is an annuitant, shall at any time exceed\npayment at the rate o f $350 per month, then the court may order such\nannuitant to pay to a judgment creditor or apply on the judgment, in\ninstallments, such portion of such excess benefits as to the court may appear\njust and proper, after due regard for the reasonable requirem ents of the\njudgment debtor and his family, if dependent upon him, as well as any\npayments required to be made by the annuitant to other creditors under prior\ncourt orders.\n(2) If the contract so provides, the benefits, rights, privileges or options accrui ng under\nsuch contract to a beneficiary or assignee shall not be transferable nor subject to\ncommutation, and if the benefits are payable periodically or at stated times, the\nsame exemptions and exceptions contained herein for the annuitant, shall apply with\nrespect to such beneficiary or assignee.\n(3) An annuity contract within the meaning of this section shall be any obligation to pay\nsums at stated times, during life or lives, or for a specified term or terms, issued for\na valuable consideration, regardless of whether or not such sums are payable to one\n(1) or more persons, jointly or otherwise, but does not include payments under life\ninsurance contracts at stated times during life or lives, or for a specified term or\nterms.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=17153","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:43Z","sha256":"9dd07817da745e2b3e6d22c05f42a2b2e99955097b92069cccaa0292419b9820","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.14-320","next":"us-ky/krs-304.14-340"},"notice":"GroundRules: Original legal text. Not legal advice."}