Arizona § 6-259 When creditor process enforceable against bank

Arizona Statutes

§ 6-259 — When creditor process enforceable against bank

Arizona § 6-259

Title 6Arizona Revised Statutes

Ch. 2BANK ORGANIZATION AND REGULATION

Art. 5.Special Deposits

This text of Arizona § 6-259 (When creditor process enforceable against bank) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 6-259 (2026).

Text

A.Subject to subsection B of this section, creditor process with respect to a special deposit is not enforceable against the bank holding the special deposit.

B.Creditor process is enforceable against a bank Holding a special deposit with respect to an amount the bank is obligated to pay a beneficiary or a depositor if the process:

1.Is served on the bank;

2.Provides sufficient information to permit the bank to identify the depositor or the beneficiary from the bank's books and records; and

3.Gives the bank a reasonable opportunity to act on the process.

C.Creditor process served on a bank before it is enforceable against the bank under subsection B of this section does not create a right of the creditor against the bank or a duty of the bank to the creditor. Other law determin

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A. Subject to subsection B of this section, creditor process with respect to a special deposit is not enforceable against the bank holding the special deposit.

B. Creditor process is enforceable against a bank Holding a special deposit with respect to an amount the bank is obligated to pay a beneficiary or a depositor if the process:

1. Is served on the bank;

2. Provides sufficient information to permit the bank to identify the depositor or the beneficiary from the bank's books and records; and

3. Gives the bank a reasonable opportunity to act on the process.

C. Creditor process served on a bank before it is enforceable against the bank under subsection B of this section does not create a right of the creditor against the bank or a duty of the bank to the creditor. Other law determines whether creditor process creates a lien enforceable against the beneficiary on a contingent interest of a beneficiary, including a depositor as a beneficiary, even if not enforceable against the bank.