Indiana § 28-9-4-1 Receipt of notice from an adverse claimant who is not a money
judgment creditor; hold on deposit account

Indiana Statutes

§ 28-9-4-1 — Receipt of notice from an adverse claimant who is not a money judgment creditor; hold on deposit account

Indiana § 28-9-4-1

Art. 9DEPOSITORY FINANCIAL INSTITUTIONS

Ch. 4Procedure Upon Receipt of Notice

This text of Indiana § 28-9-4-1 (Receipt of notice from an adverse claimant who is not a money judgment creditor; hold on deposit account) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 28-9-4-1 (2026).

Text

(a)Upon receipt of the notice required under IC 28-9-3-3(b)(1), a depository financial institution shall place a hold on the deposit account described in the notice the amount in controversy that is specified by the notice.

(b)If within three (3) working days after receipt by a depository financial institution of the notice required under IC 28-9-3-3(b)(1), the adverse claimant has failed to serve or cause to be served an apparently valid order directing the depository financial institution to hold or restrict the funds in a deposit account against which an adverse claim is asserted, the depository financial institution shall treat the deposit account as if no notice of an adverse claim had been given.

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(a) Upon receipt of the notice required under IC 28-9-3-3(b)(1), a depository financial institution shall place a hold on
the deposit account described in the notice the amount in controversy
that is specified by the notice.
(b) If within three (3) working days after receipt by a depository
financial institution of the notice required under IC 28-9-3-3(b)(1), the
adverse claimant has failed to serve or cause to be served an apparently
valid order directing the depository financial institution to hold or
restrict the funds in a deposit account against which an adverse claim
is asserted, the depository financial institution shall treat the deposit
account as if no notice of an adverse claim had been given.