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Current as of January 01, 2025 | Updated by Findlaw Staff
A. Notice to a bank of an adverse claim is not sufficient to require the bank to refuse to honor the order of any person to whose credit the account stands or who has prior authority on the books of the bank to operate the account, nor is such notice sufficient to require the bank to recognize the adverse claimant in any respect, unless the bank is directed to do so by a lawful order of a court in the United States. In the absence of such court order the bank may refuse to honor the order on the account by any person.
B. For the purposes of this section:
1. “Adverse claim” means a claim by any person who asserts the right to all or part of a deposit account to the exclusion of anyone to whose credit the account stands on the records of the bank. “Adverse claim” also includes conflicting claims of any persons to the right to operate an account.
2. “Adverse claimant” means any person asserting an adverse claim.
Cite this article: FindLaw.com - Arizona Revised Statutes Title 6. Banks and Financial Institutions § 6-233. Adverse claim to bank deposit; court order required; definitions - last updated January 01, 2025 | https://codes.findlaw.com/az/title-6-banks-and-financial-institutions/az-rev-st-sect-6-233/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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