Pennsylvania § 4A503 Injunction or restraining order with respect to funds transfer

Pennsylvania Statutes

§ 4A503 — Injunction or restraining order with respect to funds transfer

Pennsylvania·Title 13 COMMERCIAL CODE·Ch. 4A5 MISCELLANEOUS PROVISIONS

For proper cause and in compliance with applicable law, a court may restrain:

(1)a person from issuing a payment order to initiate a funds transfer;

(2)an originator's bank from executing the payment order of the originator; or

(3)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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For proper cause and in compliance with applicable law, a court may restrain:

(1) a person from issuing a payment order to initiate a funds transfer;

(2) an originator's bank from executing the payment order of the originator; or

(3) 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.

Pennsylvania § 4A503 (Injunction or restraining order with respect to funds transfer) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.