(1) If the garnishee holds property or moneys of the defendant, the garnishee shall immediately transfer the property or moneys to the person or official named in the garnishment.
(2) If the garnishee holds personal property or stock of the defendant, the court shall hold the personal property or stock of the defendant pending an order of the court.
(3) The party who obtains the garnishment shall deliver by personal service or by first class mail a copy of the order to the garnishee and to the defendant.
(4) A bank deposit in the name of two (2) or more persons, one (1) of whom is the convicted person, is subject to garnishment.