ROBERT L. EHRLICH, JR., Governor

H.B. 753

(2) THE NOTICE TO BE SENT BY THE COMPTROLLER TO A FINANCIAL
INSTITUTION UNDER PARAGRAPH (1) OF THIS SUBSECTION SHALL CONTAIN;

(I) THE NAME OF THE OBLIGOR;

(II) THE AMOUNT OF THE TAX LIEN;

(III) THE LAST KNOWN ADDRESS OF THE OBLIGOR;

(IV) THE SOCIAL SECURITY NUMBER OR FEDERAL EMPLOYER
IDENTIFICATION NUMBER OF THE OBLIGOR; AND

(V) A NOTICE TO IMMEDIATELY SEIZE AND ATTACH ALL FROM ONE
OR MORE ACCOUNTS HELD BY THE FINANCIAL INSTITUTION IN THE NAME OF THE
OBLIGOR AN AGGREGATE AMOUNT EQUAL TO THE LESSER OF THE AMOUNTS IN ALL
ACCOUNTS OR THE AMOUNT OF THE TAX LIEN.

(C) (1) ON RECEIPT OF THE NOTICE DESCRIBED IN SUBSECTION (D) OF THIS
SECTION, THE FINANCIAL INSTITUTION PROMPTLY SHALL SEIZE AND ATTACH FROM
ONE OR MORE OF THE ACCOUNTS OF THE OBLIGOR HELD BY THE FINANCIAL
INSTITUTION AN AGGREGATE AMOUNT EQUAL TO THE LESSER OF;

(I) THE TOTAL OF THE AMOUNTS IN ALL THE ACCOUNTS OF THE
OBLIGOR HELD BY THE FINANCIAL INSTITUTION; OR

(II) THE AMOUNT STATED IN THE NOTICE SENT UNDER
SUBSECTION (B) OF THIS SECTION.

(2) WITHIN 30 DAYS AFTER, BUT NOT EARLIER THAT THAN 21 DAYS
AFTER, THE FINANCIAL INSTITUTION RECEIVES THE NOTICE DESCRIBED IN
SUBSECTION (B) OF THIS SECTION, THE FINANCIAL INSTITUTION SHALL PAY TO THE
COMPTROLLER THE LESSER OF;

(I) THE TOTAL OF THE AMOUNTS IN ALL OF THE ACCOUNTS OF
THE OBLIGOR HELD BY THE FINANCIAL INSTITUTION; OR

(II) THE AMOUNT STATED IN THE NOTICE SENT UNDER
SUBSECTION (B) OF THIS SECTION.

(2) WITHIN 30 DAYS AFTER THE FINANCIAL INSTITUTION RECEIVES THE
NOTICE DIRECTING IT TO SEIZE AND ATTACH ACCOUNTS OF THE OBLIGOR, THE
FINANCIAL INSTITUTION SHALL SEND NOTICE TO THE COMPTROLLER, IN THE
MANNER SPECIFIED IN SUBSECTION (B) OF THIS SECTION, SPECIFYING THE
AGGREGATE AMOUNT HELD UNDER THIS SUBSECTION.

(3) (I) THE FINANCIAL INSTITUTION MAY ASSESS A FEE AGAINST THE
ACCOUNTS OR THE OBLIGOR, IN ADDITION TO THE AMOUNT IDENTIFIED IN THE
NOTICE UNDER SUBSECTION (B) OF THIS SECTION.

(II) IN THE CASE OF INSUFFICIENT FUNDS TO COVER BOTH THE
FEE AND THE AMOUNT IDENTIFIED IN THE NOTICE UNDER SUBSECTION (B) OF THIS
SECTION, THE FINANCIAL INSTITUTION MAY FIRST DEDUCT AND RETAIN THE FEE
FROM THE AMOUNT SEIZED AND ATTACHED AS PROVIDED IN THIS SECTION.

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