levy

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Levy

1. To impose an obligation to pay. For example, a government may levy a tax.

2. To collect what is owed. For example, a creditor may levy a debt, meaning that it may collect it from the debtor.

levy

(1) To assess. One may levy a tax or fine, which means to impose it. (2) To seize or collect, as when a creditor levies on assets by execution.

References in periodicals archive ?
If respondent (BCDA) cannot return all or part of the obligation, in cash, certified bank check or other mode of payment acceptable to the petitioner, you (the sheriff) shall levy upon the properties of respondent (BCDA) of every kind and nature whatsoever which may be disposed of for value and not otherwise exempt from execution, said the court order.
by levy upon all property and rights to property (except such property as is exempt under section 6334) belonging to such person or on which there is a lien provided in this chapter for the payment of such tax.