Current through the 2024 Fourth Special Session
Section 59-1-1704 - Election to enter into an agreement(1) A depository institution that does business in this state may elect to use the depository institution data match system to respond to judicial process against a delinquent taxpayer.(2) A depository institution may not make an election under Subsection (1) unless the commission approves the election.(3) A depository institution that elects to use the depository institution data match system shall enter into an agreement with the commission.(4) An agreement under this section shall:(a) address the operation of the depository institution data match system;(b) require the depository institution to comply with this part;(c) address reimbursement to the depository institution for complying with this part; and(d) provide for the security and confidentiality of data contained in the depository institution data match system.(5) An election under this section does not preclude the commission from requiring a depository institution to respond to judicial process against a delinquent taxpayer: (a) by means other than the depository institution data match system; andAdded by Chapter 326, 2016 General Session ,§ 6, eff. 1/1/2017.