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This entry was published on 2014-09-22
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SECTION 4-A-503
Injunction or Restraining Order With Respect to Funds Transfer
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 4-A, PART 5
Section 4-A-503. Injunction or Restraining Order With Respect to Funds

Transfer.

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.