No judgment shall be rendered in garnishment by reason of the garnishee:
- (1) having drawn, accepted, made, endorsed, or guaranteed any negotiable bill, draft, note, or other security, or
- (2) holding moneys on a claim not arising out of contract and not liquidated as to amount, or
- (3) holding moneys or property exempt by law, or the proceeds therefrom.
L. 1963, ch. 303, 60-724; January 1, 1964.