Legal Processes Policy Template
This Legal Processes Policy is intended to ensure that all legal processes are properly accepted, processed, and retained by a bank, credit union, fintech company, or other type of financial institution in compliance with all applicable laws, rules and regulations. In general, a legal process is defined as an attachment, execution, garnishment, summons, levy, subpoena, and other type legal process document against the fund of a defendant, judgment debtor, or for the release of financial records.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Types of Legal Processes – Topic 3
- Accepting Legal Processes – Topic 4
- Processing Legal Processes Other than IRS Summons or Levy – Topic 5
- Processing an IRS Summons or Levy – Topic 6
- Right of Offset – Topic 7
- Release of Funds to Customer – Topic 8
- Reimbursement of Fees – Topic 9
- Audit Policy – Topic 10
- Staff Training – Topic 11
- Retention of Documentation – Topic 12
This Legal Processes Policy (approximately 23 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
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