Nevada Commercial Instruments and Transactions
Sec. § 104A.4502
Creditor’s process served on receiving bank; setoff by beneficiary’s bank.


1.

As used in this section, creditors process means levy, attachment, garnishment, notice of lien, sequestration, or similar process issued by or on behalf of a creditor or other claimant with respect to an account.

2.

If creditors process with respect to an authorized account of the sender of a payment order is served on the receiving bank, and the receiving bank accepts the payment order, the balance in the authorized account available for satisfaction of the creditors process is deemed to be reduced by the amount of the payment order to the extent the bank did not otherwise receive payment of the order, unless the creditors process is served at a time and in a manner affording the bank a reasonable opportunity to act on it before the bank accepts the payment order.

3.

If a beneficiarys bank has received a payment order for payment to the beneficiarys account in the bank, the following rules apply:

(a)

The bank may credit the beneficiarys account. The amount credited may be set off against an obligation owed by the beneficiary to the bank or may be applied to satisfy creditors process served on the bank with respect to the account.

(b)

The bank may credit the beneficiarys account and allow withdrawal of the amount credited unless creditors process with respect to the account is served at a time and in a manner affording the bank a reasonable opportunity to act to prevent withdrawal.

(c)

If creditors process with respect to the beneficiarys account has been served and the bank has had a reasonable opportunity to act on it, the bank may not reject the payment order except for a reason unrelated to the service of process.

4.

Creditors process with respect to a payment by the originator to the beneficiary pursuant to a funds transfer may be served only on the beneficiarys bank with respect to the debt owed by that bank to the beneficiary. Any other bank served with the creditors process is not obliged to act with respect to the process.
Source
Last accessed
Oct. 17, 2019