The compulsory enforcement officer seizes monetary funds in AMD discovered with the debtor and, not later than the next day following the seizure, delivers them to the bank, i.e., on the deposit account of marz (Yerevan city) division of the Compulsory Enforcement Service.
The compulsory enforcement officer imposes attachment on monetary assets the debtor keeps in his banking accounts and deposits, via electronic messages sent to the banks, the form of which is as established by the Central Bank of the Republic of Armenia in agreement with the Ministry of Justice of the Republic of Armenia.
In case the debtor holds monetary funds, the bank or other financial institution operating the debtor’s accounts shall, within a period of three days upon receipt of the decision of the compulsory enforcement officer, transfer them to the deposit account of the marz (Yerevan city) division of the Compulsory Enforcement Service.
