Idaho Code 32-1606 – Delivery of an Asset Withholding Order and Acceptance of Jurisdiction
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(1) A financial institution shall accept an asset withholding order by any form of U.S. mail, commercial mail, delivery service, by facsimile or other electronic form of correspondence. If the asset withholding order is delivered electronically, the effective date shall be the date the electronic copy is received. An additional copy of the order shall also be sent to the financial institution by regular mail.
(2) If the financial institution elects to designate an out-of-state office to accept or process an asset withholding order, such election shall act as a waiver of any claim of defect in jurisdiction.
Terms Used In Idaho Code 32-1606
- Asset: means cash or cash value in or of a demand deposit account, checking or negotiable withdrawal order account, savings account, share account, share draft account, time deposit account or money market mutual fund account; and/or negotiable instruments including stocks and bonds, annuities, investment accounts or funds, and the cash value of insurance. See Idaho Code 32-1602
- Asset withholding order: means an administrative order issued by the department of health and welfare to a financial institution requiring the freezing and surrender of an asset in which an obligor has an interest. See Idaho Code 32-1602
- Financial institution: means a bank, credit union or other depository institution, benefit association, insurance company, safe deposit company, money market mutual fund and other entities defined in 42 U. See Idaho Code 32-1602
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.