Disclosure of information on obligors by financial institutions
- • fees
- • liability
- • rules
(1) The Department of Justice and financial institutions doing business in this state shall enter into agreements to develop and operate a data match system using automated data exchanges to the maximum extent feasible.
(2) Pursuant to the agreements, financial institutions shall provide, for each calendar quarter, the name, address, Social Security number or other taxpayer identification number and other identifying information for each obligor who:
(a) Maintains an account at, or has a claim for insurance benefits or payments with, the institution; and
(b) Owes past due support, as identified by the administrator by name and Social Security number or other taxpayer identification number.
(3) Notwithstanding subsection (2) of this section, a financial institution can satisfy its obligation to conduct a data match and provide information to the administrator under this section as provided in rules adopted by the department.
(4) If a financial institution at which an obligor has a claim for insurance benefits or payments has not previously provided the administrator with the information required by this section, the financial institution must provide the administrator with at least three business days’ advance written notice before disbursing any payment to the obligor pursuant to the claim.
(5) The administrator shall pay a reasonable fee to a financial institution for conducting the data match provided for in this section. The fee may not exceed the actual costs incurred by the financial institution.
(6) A financial institution, including an institution-affiliated party as defined in section 3(u) of the Federal Deposit Insurance Act (12 U.S.C. 1813(u)), is not liable under any state law to any person and, except as provided in this section, shall not be in violation of any other law regulating the handling of an account because the financial institution:
(a) Discloses information to the administrator under this section;
(b) Encumbers or surrenders any assets held by the financial institution in response to a notice of lien or levy issued by the administrator; or
(c) Takes any other action in good faith to comply with the requirements of this section.
(7) The department may adopt rules to implement and direct the provision of information pursuant to the agreements entered into for automated data exchanges performed by the data match system developed and operated under this section. [1997 c.746 §121; 2003 c.73 §37; 2009 c.80 §3; 2017 c.486 §2]
Note: See note under 25.640 (Definitions for ORS 25.643 and 25.646).
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information