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2024 Indiana Code
Title 28. Financial Institutions
Article 9. Depository Financial Institutions Adverse Claims Act
Chapter 3. Notice of Adverse Claims
28-9-3-2. Honoring Order or Instructions of Depositor; Liability

Universal Citation:
IN Code § 28-9-3-2 (2024)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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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

(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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