Bank Levies In Delaware Not Allowed?

[ryan]

In the cases where a creditor obtains a judgment , I believe I saw somewhere online that the State of Delaware does not permit banks in their state to levy bank accts....IRS debts and a few other government debts are allowed of course, but not creditors like CC companies.

Can anyone confirm if this is true?

[MSbklawyer]

10 Delaware Code 3502 is probably the code section you are referring to.

http://delcode.delaware.gov/title10/c035/index.shtml

[ryan]

10 Delaware Code 3502 is probably the code section you are referring to.

http://delcode.delaware.gov/title10/c035/index.shtml

Thanks for that. I looked around online and wasn't finding anything..
It looks like, according to the Delaware code, banks are exempt from garnishing/levying accounts.

[WhatMoney]

Also more information here:

http://floridaassetprotection.blogs....l-delawar.html

A bank with online checking and with offices/branches only in the state of Delaware appear to be protected against non-government bank levys from a judgment, even if the depositor is out of state.
Check with the bank to be sure they will accept out of state depositors.

[ryan]

Also more information here:

http://floridaassetprotection.blogs....l-delawar.html

A bank with online checking and with offices/branches only in the state of Delaware appear to be protected against non-government bank levys from a judgment, even if the depositor is out of state.
Check with the bank to be sure they will accept out of state depositors.

So, a Delaware Bank with any out of state branches would nullify this statute?

[WhatMoney]

So, a Delaware Bank with any out of state branches would nullify this statute?

For the out of state branches it might. Depends on how the out of state branches are set up. Banks usually follow the state laws where they are located, but this may depend on the type of bank incorporation. You would need to ask an attorney familiar with the banking laws in the state you are thinking of about the specific situation.

Why push it when there are banks incorporated only in Delaware with only Delaware branches? You only need one local account to handle any walk-in banking - just keep the balance low and send the rest out of state.

[ryan]

Why push it when there are banks incorporated only in Delaware with only Delaware branches? You only need one local account to handle any walk-in banking - just keep the balance low and send the rest out of state.

Yes, that is exactly what I'm going to do....I found two different "Delaware Only-Banks".... Thanks