§ 6-233 — Adverse claim to bank deposit; court order required; definitions

Arizona § 6-233

• Jurisdiction: Arizona
• Title 6: Arizona Revised Statutes
• Ch. 2: BANK ORGANIZATION AND REGULATION
• Art. 4: Accounts

Text

A. Notice to a bank of an adverse claim is not sufficient to require the bank to refuse to honor the order of any person to whose credit the account stands or who has prior authority on the books of the bank to operate the account, nor is such notice sufficient to require the bank to recognize the adverse claimant in any respect, unless the bank is directed to do so by a lawful order of a court in the United States. In the absence of such court order the bank may refuse to honor the order on the account by any person.

B. For the purposes of this section:

1. "Adverse claim" means a claim by any person who asserts the right to all or part of a deposit account to the exclusion of anyone to whose credit the account stands on the records of the bank. "Adverse claim" also includes conflicting claims of any persons to the right to operate an account.

2. "Adverse claimant" means any person asserting an adverse claim.