Arizona Laws 12-1577. Service of writ on branch of financial institution
A. Monies owing to a judgment debtor by a banking corporation or association, savings bank, savings and loan association, credit union, trust company or title insurance company, maintaining branch offices, or credits or other effects belonging to a judgment debtor and in the possession of or under the control of the banking corporation or association, savings bank, savings and loan association, credit union, trust company or title insurance company, may be levied on by serving a copy of the writ of garnishment on the manager or other officer of the banking corporation or association, savings bank, savings and loan association, credit union, trust company or title insurance company, at any office or branch where service is made. No garnishment shall be effective as to any debt owing by the banking corporation or association, savings bank, savings and loan association, credit union, trust company or title insurance company, if the account evidencing the indebtedness is carried at an office or branch other than the office or branch named in the writ and at which service is made or as to any credits or other effects in its possession or under its control at any other office or branch, unless the service of the writ is accompanied by a cash tender of $25 to the garnishee as costs for the search. On the payment of the search fee the writ shall be effective as to any debt owing by the banking corporation or association, savings bank, savings and loan association, credit union, trust company or title insurance company.
Terms Used In Arizona Laws 12-1577
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- Judgment debtor: means a person or entity against which a money judgment has been awarded or against which an order for support of a person is due and unpaid or against which an order pursuant to chapter 14 of this title has been entered. See Arizona Laws 12-1570
- Monies: includes cash, credit and accounts, but does not include earnings as defined in section 12-1598, paragraph 4. See Arizona Laws 12-1570
- Receipt: means actually received. See Arizona Laws 12-1570
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
- Writ: means an order or precept in writing issued in the name of the state or by a court or judicial officer. See Arizona Laws 1-215
B. Notwithstanding subsection A of this section, service of a writ of garnishment on any banking corporation or association, savings bank, savings and loan association or credit union may also be made by certified mail, return receipt requested, at the garnishee’s regular place of business, or to the garnishee’s statutory agent or at a location that is designated by the garnishee. If served by certified mail, the effective date of service is the date of receipt by the garnishee or the garnishee’s statutory agent.