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California Law Simplifies the Levying of Accounts by Allowing Creditors to Serve Banks with Legal Process at a Centralized Location, Rather than the Branch Where the Deposit Account Exists
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California Law Simplifies the Levying of Accounts by Allowing Creditors to Serve Banks with Legal Process at a Centralized Location, Rather than the Branch Where the Deposit Account Exists

California Code of Civil Procedure Section 684.110–684.14, effective January 1, 2013, requires banks and other financial institutions with more than nine branch offices in California to designate at least one central location to receive service of legal process. Institutions must file their designation with the California Department of Financial Institutions (DFI), which publishes the centralized locations online.

When updated designations are received, DFI must update its online records to reflect the designation and must provide a copy of the current notice to any party who requests it.

If an institution with more than nine branches in California fails to designate at least one central location, §684.115(b) provides that each branch of that institution in California shall be deemed to be a central location at which service of legal process may be made, and all of the institution’s branches or offices located within the state shall be deemed to be a branch or office covered by central process.

Banks and other financial institutions with fewer than nine branches may choose whether to participate.

If you are a financial institution with questions about complying with the centralized location law, or a judgment-creditor with questions about executing a levy, contact the experienced business litigation and transactional law attorneys at Glass & Goldberg.  Glass & Goldberg provides high quality and cost-effective legal services and advice for clients in all aspects of business litigation and transactional law.  Call us at (818) 888-2220, email us at info@glassgoldberg.com or visit us at www.glassgoldberg.com to learn more about our firm and sign up for future newsletters.

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