70A-4a-503. Injunction or restraining order with respect to funds transfer.
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70A-4a-503. Injunction or restraining order with respect to funds transfer.
(1)For proper cause and in compliance with applicable law, a court may restrain:
(a)a person from issuing a payment order to initiate a funds transfer;
(b)an originator's bank from executing the payment order of the originator; or
(c)the beneficiary's bank from releasing funds to the beneficiary or the beneficiary from withdrawing the funds.
(2)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.
Enacted by Chapter 294 , 1990 General Session