Depository institution requirement to secure amount subject to levy in account holder's account.

(1) Subject to Subsection (2), before the later of two business days after the day on which, or 48 hours after the time at which, a depository institution receives a notice of levy described in Section 59-1-1707 from the commission, the depository institution shall secure the amount subject to levy in a delinquent taxpayer's account by prohibiting: (a) any person that has access to the delinquent taxpayer's account from accessing the amount; or (b) the transfer or other disposition of the amount. (2) For purposes of Subsection (1), a depository institution shall secure an amount subject to levy regardless of whether a person other than the delinquent taxpayer has access to the account or is an account holder.