32-1603. WITHHOLDING OF ASSETS — GROUNDS AND ISSUANCE. When the department receives information from a data matching process that an obligor is an owner or co-owner of an asset held by a financial institution, the department may issue an asset withholding order. Any asset which is subject to a previously perfected security interest or right of set-off from the financial institution is subject to withholding only as to the unencumbered portion of the asset.
History:
[32-1603, added 2004, ch. 213, sec. 2, p. 643.]
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