If pursuant to a levy, a check, draft, money order, or other order for the withdrawal of money from a financial institution, the United States, any state, or any public entity which is payable on demand to the defendant comes into the possession of a levying officer, the levying officer shall promptly endorse and present it for payment except under the circumstances set forth in the next paragraph.
If it appears from the face of the instrument that it has been tendered to the defendant in satisfaction of a claim or demand and that endorsement of the instrument is considered a release and satisfaction by the defendant of the claim or demand, the levying officer shall not endorse the instrument unless the judgment debtor has first endorsed it to the levying officer. If the judgment debtor does not endorse the instrument to the levying officer, the levying officer shall hold it for 30 days and then return it to the maker.
To endorse the instrument the levying officer shall write the following on the instrument:
1. The name of the defendant.
2. The name and official title of the levying officer.
3. The title of the court and the cause in which the writ was issued.