§ 5109. When creditor process enforceable against bank.
170 words·~1 min read·
/de/title-5/chapter-51-uniform-special-deposits-act/5109·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Subject to subsection
(b)of this section, creditor process with respect to a special deposit is not enforceable against the bank holding the special deposit.
(b)Creditor process is enforceable against the bank holding a special deposit with respect to an amount the bank is obligated to pay a beneficiary or a depositor if the process:
(1)Is served on the bank;
(2)Provides sufficient information to permit the bank to identify the depositor or the beneficiary from the bank’s books and records; and
(3)Gives the bank a reasonable opportunity to act on the process.
(c)Creditor process served on a bank before it is enforceable against the bank under subsection
(b)of this section does not create a right of the creditor against the bank or a duty of the bank to the creditor. Other law determines whether creditor process creates a lien enforceable against the beneficiary on a contingent interest of a beneficiary, including a depositor as a beneficiary, even if not enforceable against the bank.