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Statutes Text

Article - Commercial Law


    (a)    Within 15 days after the end of each month, the judgment creditor shall furnish the employer/garnishee and the judgment debtor a written statement showing all payments that were credited to the account of the judgment debtor during that month. However, this subsection shall not apply if no payments were received by the judgment creditor during that month.

    (b)    The judgment creditor shall within 15 days after the satisfaction of the judgment, interest, and costs notify in writing the employer/garnishee and the clerk of the court of the satisfaction.

    (c)    All payments received by a judgment creditor shall be credited first against the accrued interest on the unpaid balance of the judgment, if any, second upon the principal amount of the judgment, and third upon those attorney’s fees and costs actually assessed in the cause.

    (d)    If the judgment creditor fails to comply with the obligations imposed by this section, then the court may set aside the attachment and order the judgment creditor to pay reasonable attorney’s fees and costs of the party seeking to set aside the attachment.

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