McNIFF, U.S. Bankruptcy Judge
This case came before the court for hearing January 3, 2002 on the objection of the chapter 7 trustee to a claim of exemption made by the debtor in the cash surrender value of a Prudential Life Insurance whole life policy. The court concludes the property is not exempt.
The debtor is the policy owner and the insured under the policy. The beneficiary is a nondebtor. The cash surrender value is $4,006.39.
An individual debtor may exempt from property of the estate certain property specified under applicable state law. 11 U.S.C. § 522(b)(2). Wyoming is an opt out state, and Wyoming exemptions are applicable to this case. Wyo. Stat. Ann. § 1-20-109 (LexisNexis 2001).
The debtor claims the CSV exempt pursuant to Wyo. Stat. Ann. § 26-15-129(a) (LexisNexis 2001). That statute provides:
If a policy of insurance is executed by any person on his own life . . ., in favor of a person other than himself . . . the lawful beneficiary or assignee thereof,
other than the insured or the person executing insurance . . . are entitled to its proceeds, including death benefits, cash surrender and loan values, premiums waived and dividends . . . against the creditors and representatives of the insured and of the person executing the policy, and are not liable to be applied by any legal or equitable process to pay any debt or liability of the insured individual or his beneficiary or any other person having a right under the policy[.] (Emphasis added).
The debtor argues she is entitled to an exemption in the CSV because when the Wyoming legislature amended the statute in July 2001, it expanded the definition of insurance proceeds to make virtually all interests in insurance exempt from all creditors of the insured or the beneficiary.
Be that as it may, a clear exception to the exemption is stated in the statute. The insured or the owner of the policy is not entitled to an exemption. The debtor in this case is both.
IT IS, THEREFORE, ORDERED that the trustee's objection is sustained, and the claim of exemption in the Prudential whole life policy and its cash surrender value is denied.