Utah Code 59-1-1711. Depository institution to release portion of amount subject to levy
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(1) Subject to the other provisions of this section, a depository institution shall release the portion of the amount subject to a levy under this part that the commission may receive in accordance with Section 59-1-1710 from the depository institution.
Terms Used In Utah Code 59-1-1711
- Agreement: means an agreement described in Section 59-1-1704 between a depository institution and the commission. See Utah Code 59-1-1702
- Delinquent taxpayer: means a person against whom the commission is considered to have obtained a judgment for a liability under Section 59-1-1414. See Utah Code 59-1-1702
- Depository institution: is a depository institution described in Section 7-1-103 that holds or receives deposits, savings, or share accounts. See Utah Code 59-1-1702
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
(2) On the first business day after the day on which the commission provides the notice described in Subsection 59-1-1710(3) to the depository institution, the depository institution shall release the lesser of the following:
(2)(a) the portion of the amount the commission may receive in accordance with Section 59-1-1710 from the depository institution; or
(2)(b) the balance of the delinquent taxpayer‘s account on the first business day after the day on which the commission provides the notice described in Subsection 59-1-1710(3) to the depository institution minus:
(2)(b)(i) the $10 reimbursement to the depository institution described in Section 59-1-1713; and
(2)(b)(ii) the fees that an account holder agreed to pay the depository institution to process a writ of garnishment in a deposit agreement.