Uniform Exemptions Act Law and Legal Definition

The Uniform Exemptions Act was created by the National Conference of Commissioners on Uniform State Law (NCCUSL). This act provides a group of general categories for property and assets which are exempt from creditors in bankruptcy proceedings. It achieves a fair balance between a debtor's needs and a creditor's rights. This act is now regarded by the NCCUSL as a model act, instead of a uniform act. So it is also known as the Model Exemptions Act.