Upon matching a delinquent obligor with a financial account, the Division shall automatically issue a levy for each match account.

1. 1. Such levy shall be valid for sixty (60) days. Upon receipt of any levy, the financial institution shall:

   1. a. immediately freeze all accounts of the obligor, up to the amount of the lien,
   2. b. hold funds in the accounts for twenty-one (21) days before remitting payment to the Division, and
   3. c. notify the Division if an account has been closed.
2. 2. The financial institution shall not disclose any information to the depositor or account holder pursuant to Section 30 of this act. Within three (3) working days after levy is sent to the financial institution, the Division shall send the levy to the obligor, with a notice that the obligor has ten (10) days to request an administrative review of the levy.
3. 3. Twenty-one (21) days after receiving the levy, the financial institution shall remit funds, up to the amount of the lien, to the Division, unless the Division has notified the institution that the levy has been released in part or in full. The financial institution shall remit any additional deposit made to a levied account, up to the amount of the levy, for a period of sixty (60) days after receiving the levy.

Added by Laws 1997, SB 706, c. 402, § 32, emerg. eff. July 1, 1997.