§ 43-3330 — Listing of obligors; financial institution; duties; confidentiality

Nebraska § 43-3330

• Jurisdiction: Nebraska
• Ch. 43: Infants and Juveniles

Text

A financial institution shall receive from the department a listing
of obligors to be used in matches within the financial institution's system.
The listing from the department shall include the name and social security
number or taxpayer identification number of each obligor to be used in matches
within the financial institution's system. The financial institution shall
receive the listing within thirty days after the end of each calendar quarter
subsequent to January 1, 1998, and shall match the listing to its records
of accounts held in one or more individuals' names which are open accounts
and such accounts closed within the preceding calendar quarter within thirty
days after receiving the listing and provide the department with a match listing
of all matches made within five working days of the match. The match listing
from the financial institution shall include the name, address, and social
security number or taxpayer identification number of each obligor matched and the balance of each account.
The financial institution shall also provide the names and addresses of all
other owners of accounts in the match listing as reflected on a signature
card or other similar document on file with the financial institution. The
financial institution shall submit all match listings by disk, magnetic tape,
or other medium approved by the department. Nothing in this section shall
(1) require a financial institution to disclose the account number assigned
to the account of any individual or (2) serve to encumber the ownership interest
of any person in or impact any right of setoff against an account. The financial
institution shall maintain the confidentiality of all records supplied and
shall use the records only for the purposes of this section. To maintain the
confidentiality of the listing and match listing, the department shall implement
appropriate security provisions for the listing and match listing which are
as stringent as those established under the Federal Tax Information Security
Guidelines for federal, state, and local agencies.

Legislative History

Source: Laws 1997, LB 752, § 30; Laws 2010, LB712, § 39.