Section 205.776 - [Effective 7/1/2025] Disclosure of information about data match system to depositors - Penalty - Liability of financial institution - Fee(1) A financial institution furnishing a report or providing asset information of an individual owing past-due support to the Office of the Attorney General under either subsection (1) or subsection (2) of Section 31 of this Act shall not disclose to a depositor or an account holder that the name of that person has been received from or furnished to the office. An institution may disclose to its depositors or account holder that under the financial institution match system the Office of the Attorney General has the authority to request certain identifying information on certain depositors or account holders.(2) If a financial institution willfully violates the provisions of this section by releasing asset information of an individual owing child support to the Office of the Attorney General, the institution shall pay to the office the lesser of one thousand dollars ($1,000) or the amount on deposit or in the account of the person to whom the disclosure was made.(3) A financial institution shall incur no obligation or liability to a depositor or account holder or any other person arising from the furnishing of a report or information to the Office of the Attorney General under Section 31 of this Act, or from the failure to disclose to a depositor or account holder that the name of the person was included in a list furnished by the financial institution to the office, or in a report furnished by the financial institution to the office.(4) Regardless of whether the action was specifically authorized or described in Sections 8 to 46 of this Act or an agreement, a financial institution shall not be liable for providing or disclosing of any information; for encumbering, holding, refusing to release, surrendering, or transferring any account balance or asset; or any other action taken by a financial institution pursuant to Sections 8 to 46 of this Act or agreement as required by Section 31 of this Act.(5) A financial institution shall not give notice to an account holder or customer of the financial institution that the financial institution has provided information or taken any action pursuant to Sections 8 to 46 of this Act or the agreement and shall not be liable for failure to provide that notice; provided however, that a financial institution may disclose to its depositors or account holders that, under the data match system, the Office of the Attorney General has the authority to request certain identifying information on certain depositors or account holders. The office shall notify, not less than annually, affected depositors or account holders who have not otherwise received notification.(6) A financial institution may charge an account levied on by the Office of the Attorney General a fee of not more than twenty dollars ($20) which may be deducted from the account prior to remitting any funds to the office.Amended by 2023 Ky. Acts ch. 124,§ 32, eff. 7/1/2025.Effective:6/20/2005
Amended 2005, Ky. Acts ch. 99, sec. 270, effective6/20/2005. -- Created 1998, Ky. Acts ch. 255, sec. 47, effective 7/15/1998.This section is set out more than once due to postponed, multiple, or conflicting amendments.