Liability of financial institution. A financial institution is not liable to any account holder, garnishor or other financial institution, and may not be assessed any penalty, by reason of any action taken by the financial institution in good faith under ORS 18.785, including

(1) Delivery or refusal to deliver any funds that are not subject to garnishment under ORS 18.785 to a garnishor;

(2) Providing the notice required under ORS 18.785 to an account holder;

(3) Customary clearing and settlement adjustments made to a debtor’s account that affect the balance in the debtor’s account; and

(4) Any bona fide errors that occur under ORS 18.785 despite reasonable procedures implemented by the financial institution to prevent those errors. [2011 c.733 §5; 2024 c.100 §11]