§ 13-1-205 — Financial institutions; consumer reports; encumbrance of assets; immunity

Wyoming § 13-1-205

• Jurisdiction: Wyoming
• Title 13: Banks, Banking and Finance
• Ch. 1: GENERAL PROVISIONS
• Art. 2: APPLICABILITY

Text

(a) Any financial institution as defined in W.S.
13-1-101(a)(ix), national chartered credit union, benefit
association, insurance company, safe deposit company, money
market mutual fund or similar entity authorized to do business
in the state shall:
(i) Enter into an agreement with the department of
family services to provide identifying information for each
noncustodial parent who maintains an account at the institution
and who the department of family services identifies as owing
past due child support, provided:
(A) Any financial institution entering into
agreement with the department pursuant to this section shall be
entitled to recover its reasonable and necessary charges for
researching or providing information pursuant to a request;
(B) Each financial institution shall have an
agreement with the department setting a time schedule for
developing an agreement for providing the information required
pursuant to this section.
(ii) In response to a notice of lien or levy,
encumber and, pursuant to court order, surrender assets of a
noncustodial parent who is identified by the department of
family services as owing past due child support which are
maintained at the financial institution or national chartered
credit union in a demand deposit account, checking or other
negotiable withdrawal order account, savings or share account,
time deposit account or money market mutual fund account. Any
assets in an account protected under the federal Employee
Retirement Income Security Act shall be subject to a lien under
this section, but shall not be surrendered by the financial
institution or national chartered credit union.
(b) Any financial institution as defined in W.S.
13-1-101(a)(ix), national chartered credit union, benefit
association, insurance company, safe deposit company, money
market mutual fund or similar entity authorized to do business
in the state shall not be liable to any person for:
(i) Any disclosure of information provided to the
department of family services under this section;
(ii) Encumbering pursuant to notice from the
department, or surrendering pursuant to court order, any assets
held by the institution or credit union in response to a notice
of lien or levy issued by the department of family services; or
(iii) Any other action taken in good faith to comply
with the provisions of this section.