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252i-7
252I.7 RESPONSIBILITIES OF FINANCIAL INSTITUTION.
Upon receipt of a notice under section 252I.5, the financial
institution shall do all of the following:
1. Immediately encumber funds in all accounts in which the
obligor has an interest to the extent of the debt indicated in the
notice from the unit.
2. No sooner than fifteen days, and no later than twenty days
from the date the financial institution receives the notice under
section 252I.5, unless notified by the unit of a challenge by the
obligor or an account holder of interest, the financial institution
shall forward the moneys encumbered to the collection services center
with the obligor's name and social security number, collection
services center account number, and any other information required in
the notice.
3. The financial institution may assess a fee against the
obligor, not to exceed ten dollars, for forwarding of moneys to the
collection services center. This fee is in addition to the amount of
support due. In the event that there are insufficient moneys to
cover the fee and the support amount due, the institution may deduct
the fee amount prior to forwarding moneys to the collection services
center and the amount credited to the support obligation shall be
reduced by the fee amount. Section History: Recent Form
94 Acts, ch 1101, §7
Referred to in § 252I.8
