§ 4A-503. Injunction or restraining order with respect to funds transfer.
86 words·~1 min read·
/de/title-6/4a-503A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For proper cause and in compliance with applicable law, a court may restrain
(i)a person from issuing a payment order to initiate a funds transfer,
(ii)an originator’s bank from executing the payment order of the originator, or
(iii)the beneficiary’s bank from releasing funds to the beneficiary or the beneficiary from withdrawing the funds. A court may not otherwise restrain a person from issuing a payment order, paying or receiving payment of a payment order, or otherwise acting with respect to a funds transfer.