51.1-802 - Assets of retirement systems; exemption from taxation; execution and assignment. - Virginia Statutes

§ 51.1-802. Assets of retirement systems; exemption from taxation; executionand assignment.

The assets of any retirement system established pursuant to this article, orby a city or town charter, are hereby exempted from any state, county, ormunicipal tax. The assets of a retirement system, retirement allowances, andother benefits accrued or accruing to any person under the provisions of thischapter, or under any city or town charter, shall not be subject toexecution, attachment, garnishment, or any other process except foradministrative actions pursuant to Chapter 19 (§ 63.2-1900 et seq.) of Title63.2 or any court process to enforce a child or child and spousal supportobligation, nor shall any assignment thereof be enforceable in any court.However, retirement benefits and assets created under this title which aredeemed to be marital property pursuant to Chapter 6 (§ 20-89.1 et seq.) ofTitle 20 may be divided or transferred by the court by direct assignment to aspouse or former spouse pursuant to § 20-107.3.

(Code 1919, § 3035; 1932, p. 752; 1942, p. 178; 1944, p. 54; 1945, p. 74;1946, p. 61; Code 1950, § 51-112; 1952, cc. 59, 587; 1959, Ex. Sess., c. 58;1960, c. 404; 1968, c. 60; 1980, c. 135; 1989, Sp. Sess., c. 3; 1990, c. 832;1991, c. 433; 1992, c. 716.)