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