6-1601. Financial institutions data match and
data exchange; surrender of assets of delinquent taxpayer;
nonliability
A. Financial institutions may enter into agreements with the department of revenue
for data match and data exchange as prescribed by section 42-1207.
B. On receipt of a notice of levy, a financial institution shall encumber or
surrender, as appropriate, assets held by the financial institution on behalf of a
delinquent taxpayer. If the financial institution receives two notices of levy on the
same day for the same person, a levy issued to collect child support pursuant to section
25-521 has priority over a levy issued pursuant to this section.
C. Notwithstanding any other law, a financial institution is not subject to civil
liability for either:
1. Disclosing to the department of revenue or its agent a person's financial record
pursuant to section 42-1207 or any acts of omission that are inadvertent and made in good
faith.
2. Encumbering or surrendering any assets held by the financial institution in
response to a notice of levy that is issued by the department of revenue or for any
action taken in good faith to comply with this section.
D. The remedy under subsection B of this section is limited to collection of
delinquent taxes, penalties and interest.
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