Iowa Admin. Code r. 441-98.96

Current through Regsiter Vol. 46, No. 26, June 12, 2024

Rule 441-98.96 - Responsibilities of financial institution

Upon receipt of the notice of administrative levy, the financial institution shall follow procedures specified in Iowa Code section 2521.7 for encumbering and forwarding funds to collection services center The financial institution shall encumber only the funds in the obligor's account on the day the notice is received. Any deposits made by the obligor after notice is received by the financial institution are not subject to the administrative levy process unless another notice is issued to the financial institution.