6-1601. Financial institutions data match and data exchange; surrender of assets of delinquent taxpayer; nonliability
A. Financial institutions may enter into agreements with the department of revenue for data match and data exchange as prescribed by section 42-1207.
B. On receipt of a notice of levy, a financial institution shall encumber or surrender, as appropriate, assets held by the financial institution on behalf of a delinquent taxpayer. If the financial institution receives two notices of levy on the same day for the same person, a levy issued to collect child support pursuant to section 25-521 has priority over a levy issued pursuant to this section.
C. Notwithstanding any other law, a financial institution is not subject to civil liability for either:
1. Disclosing to the department of revenue or its agent a person's financial record pursuant to section 42-1207 or any acts of omission that are inadvertent and made in good faith.
2. Encumbering or surrendering any assets held by the financial institution in response to a notice of levy that is issued by the department of revenue or for any action taken in good faith to comply with this section.
D. The remedy under subsection B of this section is limited to collection of delinquent taxes, penalties and interest.Section: Previous 6-1415 6-1416 6-1417 6-1418 6-1419 6-1501 6-1502 6-1601 6-1701 6-1702 6-1703 6-1704 6-1705 6-1706 6-1707 Next
Last modified: October 13, 2016