70A-4a-503 - Injunction or restraining order with respect to funds transfer.
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 fromwithdrawing the funds.
(2) A court may not otherwise restrain a person from issuing a payment order, paying orreceiving payment of a payment order, or otherwise acting with respect to a funds transfer.
Enacted by Chapter 294, 1990 General Session