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IN RE JOHNSON

Bankruptcy No. 82-00767 MA.

36 B.R. 54 (1984)

In re Duane JOHNSON and Sandra Johnson, Debtors.

United States Bankruptcy Court, D. New Mexico.

January 11, 1984.

Attorney(s) appearing for the Case

Jennie Deden Behles, Albuquerque, N.M., for debtor Sandra Johnson.

John T. Fitzpatrick, Albuquerque, N.M., for debtor Duane Johnson.

Charles W. Rawson, Albuquerque, N.M., for Grants State Bank.

Harley Swink, Trustee.

MEMORANDUM OPINION

MARK B. McFEELEY, Bankruptcy Judge.

This matter came before the Court upon the hearing of the objection of Grants State Bank (Bank) to the debtor's claimed exemption of $12,278.00 which represents the value of the debtor's interest in the Gulf Savings Stock Bonus Plan. The Bank objected on the grounds that the exemption did not qualify under 11 U.S.C. § 522(d)(10), and that the stock or its value should be turned over to the trustee...

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