Arizona Revised Statutes Title 6. Banks and Financial Institutions § 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 § 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 § 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:

D. The remedy under subsection B of this section is limited to collection of delinquent taxes, penalties and interest.