9-1207.   Adverse claim to deposit.Notice to any bank of an adverse claim to a deposit with such bank neednot be recognized, and shall not be deemed effective, unless and untileither the person making the claim supplies indemnity deemed adequate bythe bank or the bank is served with process or order issued by a court ofcompetent jurisdiction in an action in which the adverse claimant and theperson or persons nominally entitled to the deposit are parties.

      History:   L. 1947, ch. 102, § 56; L. 1965, ch. 564, §400; Jan. 1, 1966.