Seizure And Sale Authorized

(1) The term “levy,” includes the power of distraint and seizure by any means. It is contemplated that the power of distraint and seizure shall be exercised by the Commissioner or his delegate as an exclusively administrative procedure. The exercise of the power of distraint and seizure shall be a distinctively nonjudicial process. Any commissioned officer or employee of the Department of Revenue is authorized to serve a levy which is lawfully executed under the provisions of this chapter by the Commissioner or his delegate. A levy intends only to property in possession of the person upon whom a levy is made and to those obligations of such person to the taxpayer actually existing at the time of the levy. (2) (a) A levy may be accomplished under the provisions of this chapter by serving a notice of levy on any person in possession of, or obligated with respect to, property or rights to property subject to levy. Such property or rights to property include, but are not limited to, bank accounts, savings and loan association shares, evidences of debt, receivables, securities, and accrued commissions, salaries, wages, income, or other compensation. (b) Property which is nonsalable under the laws of this state or property which has no marketable value in this state, such as but not limited to open containers of beverage or food or items which have intrinsic value only, shall not be levied upon, except upon specific direction of the Commissioner or his delegate.