Wisconsin Statutes 224.40 – Disclosure of financial records for child support enforcement
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Terms Used In Wisconsin Statutes 224.40
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(1) Definitions. In this section:
(a) “County child support agency” means a county child support agency under s. 59.53 (5).
(b) “Financial institution” has the meaning given in s. 49.853 (1) (c).
(c) “Financial record” has the meaning given in 12 U.S. Code § 3401.
(2) Financial record matching agreements. A financial institution is required to enter into an agreement with the department of children and families in accordance with rules promulgated under s. 49.853 (2).
(3) Limited liability. A financial institution is not liable for any of the following:
(a) Disclosing a financial record of an individual to the county child support agency attempting to establish, modify or enforce a child support obligation of the individual.
(b) Disclosing information to the department of children and families or a county child support agency pursuant to the financial record matching program under s. 49.853.
(c) Encumbering or surrendering any assets held by the financial institution in response to instructions provided by the department of children and families or a county child support agency for the purpose of enforcing a child support obligation.