554.12503 Injunction or restraining order with respect to funds transfer.
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/ia/chapter-554-uniform-commercial-code/554-12503A 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 a person from issuing a payment order to initiate a funds transfer, an originator’s bank from executing the payment order of the originator, or 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.