Illinois Statutes
§ 4A-503
Illinois·Topic BUSINESS AND EMPLOYMENT·Ch. 810 COMMERCIAL CODE·Act 810 ILCS 5/ Uniform Commercial Code.·Art. Article 4A - Funds Transfers
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.
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Legislative History
(Source: P.A. 86-1291.)
Nearby Sections
15
§ 4A-101
Short title§ 4A-102
Subject matter§ 4A-103
Payment order; definitions§ 4A-104
Funds transfer; definitions§ 4A-105
Other definitions§ 4A-106
Time payment order is received§ 4A-201
Security procedure§ 4A-204
§ 4A-204§ 4A-205
Erroneous payment orders§ 4A-206
§ 4A-206§ 4A-207
Misdescription of beneficiary