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Nebraska Revised Statutes Chapter 8. Banks and Banking § 8-3209. When creditor process enforceable against financial institution

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Subject to subsection (b), creditor process with respect to a special deposit is not enforceable against the financial institution holding the special deposit.

(b) Creditor process is enforceable against the financial institution holding a special deposit with respect to an amount the financial institution is obligated to pay a beneficiary or a depositor if the process:

(1) is served on the financial institution;

(2) provides sufficient information to permit the financial institution to identify the depositor or the beneficiary from the financial institution's books and records; and

(3) gives the financial institution a reasonable opportunity to act on the process.

(c) Creditor process served on a financial institution before it is enforceable against the financial institution under subsection (b) does not create a right of the creditor against the financial institution or a duty of the financial institution 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 financial institution.

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Cite this article: FindLaw.com - Nebraska Revised Statutes Chapter 8. Banks and Banking § 8-3209. When creditor process enforceable against financial institution - last updated January 01, 2024 | https://codes.findlaw.com/ne/chapter-8-banks-and-banking/ne-rev-st-sect-8-3209/

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