(A) In the manner and form prescribed by the Child Support Enforcement Division, a financial institution, as defined in § 63-17-2310(A)(2), on a quarterly basis, shall provide the division or its designee information on account holders for use in the establishment, enforcement, and collection of child support obligations including, but not limited to:

(1) full name;

(2) social security number or taxpayer identification number, or the alien identification number assigned to a resident alien who does not have a social security number;

(3) record address;

(4) account numbers; and

(5) information on assets and liabilities.

(B) Utilizing automated data exchanges to the maximum extent feasible, a financial institution shall provide for each calendar quarter the name, address, social security number, or the alien identification number assigned to a resident alien who does not have a social security number, and other identifying information for each noncustodial parent who maintains an account at the institution and who owes past-due support, as identified by the division by name and social security number, or the alien identification number assigned to a resident alien who does not have a social security number.

(C) In response to a notice of lien or levy, a financial institution shall encumber or surrender, as the case may be, assets held by the institution on behalf of a noncustodial parent who is subject to a child support lien.

(D) The department shall pay a reasonable fee to a financial institution for conducting the data match, not to exceed the actual costs incurred by the financial institution.

(E) This section remains in effect until the federal mandate requiring the operation of a financial institution data match is repealed.