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.
Last modified: February 27, 2006