Okla. Stat. tit. 40, § 40-3-510
This is the official text of Okla. Stat. tit. 40, § 40-3-510, part of Oklahoma’s Stat. tit. 40, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 40,." Browse the sections below, each linked to its official government source.
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Enforcement of bank levy
Official statutory text
ENFORCEMENT OF BANK LEVY. A. Any bank that fails or refuses to
surrender any money or rights to money in a bank account subject to
levy, upon being served with a Notice of Levy and supporting tax
warrants of the Oklahoma Employment Security Commission, shall be
liable to the Oklahoma Employment Security Commission in a sum equal
to the amount of money or rights to money not so surrendered, but
not exceeding the amount of the tax debtor's indebtedness for the
collection of which the levy has been made, together with accrued
interest pursuant to subsection A of Section 3-301 of this title,
and the cost of service of the Notice of Levy. Any amount recovered
under this subsection shall be credited against the liability for
taxes, interest, penalty, fees, and surcharge, for the collection of
which the levy was made.
B. Any bank in possession of money or rights to money subject
to levy, upon which a levy has been made, that surrenders such money
or rights to money to the Oklahoma Employment Security Commission
shall be discharged from any obligation or liability to the tax
debtor and any other person or entity with respect to such money or
rights to money arising from the surrender or payment.
surrender any money or rights to money in a bank account subject to
levy, upon being served with a Notice of Levy and supporting tax
warrants of the Oklahoma Employment Security Commission, shall be
liable to the Oklahoma Employment Security Commission in a sum equal
to the amount of money or rights to money not so surrendered, but
not exceeding the amount of the tax debtor's indebtedness for the
collection of which the levy has been made, together with accrued
interest pursuant to subsection A of Section 3-301 of this title,
and the cost of service of the Notice of Levy. Any amount recovered
under this subsection shall be credited against the liability for
taxes, interest, penalty, fees, and surcharge, for the collection of
which the levy was made.
B. Any bank in possession of money or rights to money subject
to levy, upon which a levy has been made, that surrenders such money
or rights to money to the Oklahoma Employment Security Commission
shall be discharged from any obligation or liability to the tax
debtor and any other person or entity with respect to such money or
rights to money arising from the surrender or payment.
Status: in_force · Read it on the official government site
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