17:9A-223 - Adverse claim to deposits
17:9A-223.Ā Adverse claim to deposits
Notice to any banking institution of an adverse claim to a deposit to the credit of any person shall not be effectual to cause the banking institution toĀ recognize the adverse claimant unless the adverse claimant shall either procureĀ a restraining order, injunction or other appropriate process against theĀ banking institution from a court of competent jurisdiction in a cause whereinĀ the person to whose credit the deposit stands is a complainant or is aĀ defendant who has been served with process, or shall execute and deliver to theĀ banking institution, in form and with surety acceptable to it, a bond indemnifying the banking institution against any liability, loss, damage, costsĀ and expenses on account of the payment of the adverse claim or the dishonor ofĀ checks, notes or other instruments requiring payment of money by or for theĀ account of the person to whose credit the deposit stands on the books of theĀ banking institution. This section shall not apply when the person to whoseĀ credit the deposit stands is a fiduciary for the adverse claimant, and theĀ facts showing such relationship and reasonable cause for belief that theĀ fiduciary is about to misappropriate the deposit are made to appear byĀ affidavit of the claimant.
L.1948, c. 67, p. 354, s. 223.
Ā
Notice to any banking institution of an adverse claim to a deposit to the credit of any person shall not be effectual to cause the banking institution toĀ recognize the adverse claimant unless the adverse claimant shall either procureĀ a restraining order, injunction or other appropriate process against theĀ banking institution from a court of competent jurisdiction in a cause whereinĀ the person to whose credit the deposit stands is a complainant or is aĀ defendant who has been served with process, or shall execute and deliver to theĀ banking institution, in form and with surety acceptable to it, a bond indemnifying the banking institution against any liability, loss, damage, costsĀ and expenses on account of the payment of the adverse claim or the dishonor ofĀ checks, notes or other instruments requiring payment of money by or for theĀ account of the person to whose credit the deposit stands on the books of theĀ banking institution. This section shall not apply when the person to whoseĀ credit the deposit stands is a fiduciary for the adverse claimant, and theĀ facts showing such relationship and reasonable cause for belief that theĀ fiduciary is about to misappropriate the deposit are made to appear byĀ affidavit of the claimant.
L.1948, c. 67, p. 354, s. 223.
Ā