South Dakota Bankruptcy Exemptions
Homestead
43-31-1 & 43-31-2 & 43-31-5 - Real property, including mobile home if larger
than 240 square feet and registered in the State at least 6 months prior to
filing bankruptcy, of unlimited value; but cannot exceed 1 acre in a town or
160 acres elsewhere. Sale proceeds are exempt for 1 year after sale up to
$30,000 (up to $170,000 if a widow, widower, or over 70 years old and not
married). Spouse or child of a deceased owner may also claim exemption.
Cannot include gold or silver mine, mill, or smelter.
Personal Property
43-45-2 - All debtors may claim clothing; food and fuel to last 1 year;
bible and books up to $200; pictures; church pew; burial plot.
43-45-4 - $4,000 of any personal property; $6,000 if head of family.
47-29-25 - Cemetery association property.
Wages
15-20-12 - Earned wages owing 60 days prior to filing for bankruptcy, needed
for support.
24-8-10 - Wages of prisoners in work programs.
Pensions
11 U.S.C. § 522 - Tax exempt retirement accounts; Traditional and Roth IRAs
up to $1,095,000 per person.
3-12-115 - Public employees.
9-16-47 - City employees.
43-45-16 - ERISA-qualified benefits up to $250,000 of income and
distribution.
Public Benefits
23A-28B-24 - Crime victims' compensation.
28-7A-18 - Public assistance.
61-6-28 - Unemployment compensation.
62-4-42 - Workers' compensation.
Tools of Trade
See Personal Property.
Insurance
43-45-6 - Life insurance proceeds if beneficiary is surviving spouse or
child up to $10,000.
58-12-4 - Health benefits up to $20,000; endowment or life insurance policy,
proceeds or cash value up to $20,000.
58-12-8 - Annuity contract proceeds up to $250 per month.
58-15-70 - Life insurance proceeds if policy prohibits use to pay creditors.
58-37A-18 - Fraternal benefit society benefits.