59-1-1707. Commission requirement to provide notice of levy to depository institution -- Duration of levy.
(1) The commission shall provide, within three business days after a depository institution provides the commission information described in Section, a notice of levy to the depository institution by electronic means: 59-1-1706 stating that the commission levies an amount equal to the liability of a delinquent taxpayer that is an account holder at the depository institution; and identifying the account subject to levy.
(2) A levy described in Subsectionis valid until the earlier of: (1) the day on which the commission releases the levy; the day on which the delinquent taxpayer satisfies the liability; or the day on which the depository institution releases, in accordance with Section, the amounts deposited into the account of the delinquent taxpayer. 59-1-1711
(3) The commission shall provide notice to a depository institution by electronic means: if the commission releases a levy, no later than one business day after the day on which the commission releases the levy; or if a delinquent taxpayer satisfies the liability, no later than one business day after the day on which the delinquent taxpayer satisfies the liability.