§ 70A-4a-503. Injunction or restraining order with respect to funds transfer.

Latest version.

(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

                    
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