The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
48-227 - Exemption from taxation and execution; exceptions; nonassignability of benefits
48-227. Exemption from taxation and execution; exceptions; nonassignability of benefits
A. The benefits, annuities and pensions, the employee and district contributions and the securities in which any trust fund provided for in a plan shall be invested shall not be subject to execution or attachment, garnishment, bankruptcy proceedings or other legal process. The securities in the plan's trust fund are exempt from state, county and municipal taxes, but the benefits, annuities and pensions received by an officer or employee from such a plan after December 31, 1988 are subject to tax pursuant to title 43.
B. No participant or beneficiary, or any other person having or claiming to have any interest of any kind or character in or under any plan adopted by a district, or any part thereof, or payment therefrom, shall have any right to sell, assign, transfer, convey, hypothecate, anticipate, or otherwise dispose of such interest.