(a) The Director of the Division of Workforce Services or his or her designated representative may give notice of impoundment of any deposits in any bank or savings and loan institution payable to the order of any employer owing any delinquent contributions, interest, and penalties to which a lien has attached under this chapter. Notice of impoundment shall be served by the director or his or her designated representative by certified mail to the bank or savings and loan institution or by written notice served personally upon its president, vice president, cashier, or assistant cashier.
(b) Any bank or savings and loan institution served with notice of impoundment shall be required to recognize the Division of Workforce Services' lien on any deposit subject thereto by withholding payment of any deposit in an amount not to exceed the amount of the delinquent contributions, interest, and penalty to the depositor or to his or her order for a period not to exceed sixty (60) days.
(c) Any bank or savings and loan institution failing to comply shall be held liable for the amount covered by the notice of impoundment up to the amount on deposit to the employer's credit with the bank or savings and loan institution.
(d)
(1) Impoundment of the funds shall be revoked when the lien or judgment has been satisfied and may be revoked at any time at the discretion of the director or his or her designated representative.
(2) Revocation of impoundment shall be served in the same manner as the notice of impoundment.
Structure Arkansas Code
Title 11 - Labor and Industrial Relations
Chapter 10 - Division of Workforce Services Law
§ 11-10-701. Accrual and payment by employer
§ 11-10-702. Rate of contributions
§ 11-10-703. Future rates — Maintenance of separate accounts
§ 11-10-704. Future rates — Experience rates generally
§ 11-10-705. Future rates — Computation of contribution rates
§ 11-10-706. Future rates — Stabilization tax
§ 11-10-707. Future rates — Definitions — Notifications
§ 11-10-708. Future rates — Advance interest tax
§ 11-10-709. Wages and employment
§ 11-10-710. Transfer of experience
§ 11-10-711. Temporary closing of business because of absence in armed forces
§ 11-10-712. Employer ceasing to pay wages
§ 11-10-713. Employees of nonprofit organizations and governmental entities — Definitions
§ 11-10-714. Exception — Reimbursable payments
§ 11-10-715. Employers' nonliability
§ 11-10-716. Collection — Interest on past due contributions
§ 11-10-717. Collection — Failure to pay or report — Penalty — Definition
§ 11-10-718. Collection — Priorities under legal dissolutions or distributions — Release of liens
§ 11-10-719. Collection — Refunds
§ 11-10-720. Collection — Certificate of assessment
§ 11-10-721. Collection — Limitation of assessment
§ 11-10-722. Collection — Impoundment
§ 11-10-723. Special rules regarding transfers of experience and assignment of rates — Definitions