Any beneficiary fund not exceeding five thousand dollars [($5,000)], set apart, appropriated or paid, by any benevolent association or society, according to its rules, regulations or bylaws, to the family of any deceased member, or to any member of such family, shall not be liable to be taken by any process or proceedings, legal or equitable, to pay any debts of such deceased member.
History: Laws 1887, ch. 37, § 7; C.L. 1897, § 1741; Code 1915, § 2315; C.S. 1929, § 48-105; 1941 Comp., § 21-504; 1953 Comp., § 24-5-4.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Law reviews. — For comment, "A Comparison of State and Federal Exemptions: 11 U.S.C. § 101-1330 (Supp. II 1978)," see 10 N.M.L. Rev. 431 (1980).
Am. Jur. 2d, A.L.R. and C.J.S. references. — Construction and effect of statutory exemptions of proceeds of workmen's compensation awards, 31 A.L.R.3d 532.
Validity, construction and effect of statutory exemptions of proceeds of workers' compensation awards, 48 A.L.R.5th 473.
Structure 2021 New Mexico Statutes
Chapter 42 - Actions and Proceedings Relating to Property
Section 42-10-1 - Exemptions of married persons or heads of households.
Section 42-10-2 - Exemptions of persons who support only themselves.
Section 42-10-3 - [Life, accident and health insurance benefits.]
Section 42-10-4 - [Benefits from benevolent associations.]
Section 42-10-5 - [Life insurance proceeds.]
Section 42-10-7 - Taxes and garnishment excepted.
Section 42-10-9 - Homestead exemption.
Section 42-10-10 - Exemption in lieu of homestead.