Answer:
It would depend on the law that supports the specific lien. IRS liens only attach funds in the account that are currently available to the customer for withdrawal at the time of receipt.
First published on BankersOnline.com 10/3/11
Rules for Holding Funds on Acct: Bank has Lien
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Question:
What are the rules for holding funds on an account when the bank receives a lien? Can they hold it for more than what is in the account?
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