00                            SENATE BILL NO. 47                                                                          
01 "An Act relating to exemptions for cash surrender values, accrued dividends, and loan                                   
02 values of life insurance and annuity contracts."                                                                        
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. AS 09.38.025(a) is repealed and reenacted to read:                                                    
05            (a)  Except as provided in this section or AS 09.38.017, an individual is                                    
06       entitled to exemption of unmatured life insurance and annuity contracts owned by the                              
07       individual, including the cash surrender values, accrued dividends, and loan values                               
08       available to the individual under the contracts.                                                                  
09    * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to                          
10 read:                                                                                                                   
11       APPLICABILITY. AS 09.38.025(a), as repealed and reenacted by sec. 1 of this Act,                                  
12 applies to an exemption that is sought on or after the effective date of this Act.