A. The provisions of this article are applicable to indebtedness owed to a judgment debtor by a garnishee for monies which are earnings as defined in section 12-1598, paragraph 4. Earnings become monies, as defined in section 12-1570, paragraph 6, upon their disbursement by the employer to or for the account of the employee, except disbursements into a pension or retirement fund.
B. The provisions of this article are not applicable to garnishments of:
1. Indebtedness owed to a judgment debtor by a garnishee for amounts which are not earnings as defined in section 12-1598, paragraph 4.
2. Monies held by a garnishee on behalf of a judgment debtor.
3. Personal property of a judgment debtor that is in the possession of a garnishee.
4. Shares or securities of a corporation or a proprietary interest in a corporation belonging to a judgment debtor, if the garnishee is a corporation.