Sec. 2. Except as provided in sections 3 and 4 of this chapter, and notwithstanding IC 34-25-3-3 or any other rule or doctrine of law that:

(1) would cause a depository financial institution to be accountable to an adverse claimant for any portion of any deposit account; or

Terms Used In Indiana Code 28-9-3-2

  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Lien: A claim against real or personal property in satisfaction of a debt.
(2) would create or impose in favor of an adverse claimant a lien, charge, encumbrance, or other right with respect to a deposit account;

a depository financial institution may, without being liable in damages to any person, honor the order or instructions of a depositor or an agent of a depositor who is authorized under records maintained by the depository financial institution to control the depositor’s deposit account.

As added by P.L.258-1989, SEC.2. Amended by P.L.1-1998, SEC.156.

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