2009 Iowa Code
Title 13 - Commerce
Subtitle 2 - Financial Institutions
CHAPTER 524 - BANKS
524.808 - ADVERSE CLAIMS TO DEPOSITS.

        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 the customer, currently
      on file with the state bank, which has not been revoked by valid
      corporate action in the case of a corporation, or by a valid
      agreement or other valid action appropriate for the form of legal
      organization of any other customer, of which the state bank has
      received notice and which is not the subject of a dispute known to
      the state bank as to its original validity.  The deposit account
      records of a state bank shall be presumptive evidence as to the
      identity 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 further order of such court
      or instructing the state bank to pay the balance of the account, in
      whole or 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 it might incur
      because of its recognition of the adverse claim or because of its
      refusal by reason of 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]