§ 524.808

524.808 Adverse claims to deposits. 1. A state bank shall not be required, in the absence of a court order or indemnity required by this section, to recognize any claim to, or any claim of authority to exercise control over,a deposit account made by a person or persons other than: a. The customer in whose name the account is held by the state bank.b. An individual or group of individuals who are authorized to draw on or control the account pursuant to certified corporate resolution or other written arrangement with thecustomer, currently on file with the state bank, which has not been revoked by valid corporateaction in the case of a corporation, or by a valid agreement or other valid action appropriatefor the form of legal organization of any other customer, of which the state bank has receivednotice and which is not the subject of a dispute known to the state bank as to its originalvalidity. The deposit account records of a state bank shall be presumptive evidence as to theidentity of the customer on whose behalf the money is held. 2. To require a state bank to recognize an adverse claim to, or adverse claim of authority to control, a deposit account, whoever makes the claim

ty of the customer on whose behalf the money is held. 2. To require a state bank to recognize an adverse claim to, or adverse claim of authority to control, a deposit account, whoever makes the claim must either: a. Obtain and serve on the state bank an appropriate court order or judicial process directed to the state bank, restraining any action with respect to the account until furtherorder of such court or instructing the state bank to pay the balance of the account, in wholeor in part, as provided in the order or process; or b. Deliver to the state bank a bond, in form and amount and with sureties satisfactory to the state bank, indemnifying the state bank against any liability, loss or expense which itmight incur because of its recognition of the adverse claim or because of its refusal by reasonof such claim to honor any check or other order of anyone described in paragraphs 'a' and'b' of subsection 1 of this section. [C71, 73, 75, 77, 79, 81, §524.808] Sat Dec 23 01:17:05 2023 Iowa Code 2024, Section 524.808 (22, 0)